Launches $200M Fund for Crypto Startups

The Hong Kong-headquartered cryptocurrency exchange has set up a new venture arm to invest the $200 million.

AccessTimeIconMar 4, 2021 at 9:00 a.m. UTC
Updated Sep 14, 2021 at 12:21 p.m. UTC is launching a $200 million fund dedicated to investing in crypto startups, CoinDesk can exclusively reveal.

  • To lead the effort, the Hong Kong-headquartered cryptocurrency exchange announced the launch of a new venture arm, Capital, on Thursday.
  • The firm has earmarked $200 million for the venture arm to invest in crypto startups and projects at seed and Series A stages.
  • Capital will lead funding rounds with investments of between $100,000 and $3 million at seed stage and between $3 million and $10 million at Series A.
  • According to Bobby Bao, co-founder and the new arm's chief, startups will rely on Capital to "move fast and provide both capital and access to a global user base."
  • Crypto exchanges having venture arms is far from unusual. Coinbase, Binance and have all had investment wings for years.


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