Huiyin Adds $60 Million to Blockchain Startup Fund

Huiyin Blockchain Venture is doubling down on its commitment to invest in industry startups, increasing the size of its fund to $80m.

AccessTimeIconFeb 8, 2017 at 11:00 a.m. UTC
Updated Sep 11, 2021 at 1:04 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Two months after it first announced a $20m fund that would focus exclusively on bitcoin and blockchain startups, Huiyin Blockchain Venture is doubling down on its commitment.

The China-based investment firm, a subsidiary of investment conglomerate Huiyin Group, revealed to CoinDesk that the fund has now collected a total of $80m, which will be placed strategically into startups.

A representative for the firm indicated that Huiyin Blockchain Venture is now considering investments in companies looking for seed-stage and Series A and B investments, with a wide focus on the companies that would be considered.

Huiyin Blockchain Venture president James Wo told CoinDesk:

"Our parent company believes blockchain use cases, infrastructure and exchanges are all important, and we’re going to select great projects from those three areas."

Wo also indicated that the fund may not further grow for some time, as it could take up to two years to allocate to selected startups.

To date, Huiyin Blockchain Venture has invested mainly in bitcoin startups, including the Amazon e-commerce platform Purse, Indian bitcoin exchange Unocoin and the bitcoin micropayments platform SatoshiPay.

Still, Wo suggested more investments would be forthcoming, and that some of the deals from the company could be sizeable.

"We will speed up soon," he predicted.

Investment concept via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.