Home Breaking News LongHash Ventures launches US$ 15M blockchain fund

LongHash Ventures launches US$ 15M blockchain fund

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LongHash Ventures launches US$ 15M blockchain fund
LongHash Ventures launches US$ 15M blockchain fund
Singapore-based Web 3.0 blockchain accelerator and investor LongHash Ventures has launched a US$15 million blockchain fund in February 2021.
The new fund will be utilized to invest in tokens and early-stage blockchain companies, focusing on Web 3.0 infrastructure components and decentralized finance (DeFi). DeFi refers to a set of financial applications and services that are built on top of open-source smart contracts.
LongHash Ventures

LongHash Ventures was founded in 2018. Its aim is to build the native Web 3.0 blockchain economy and is backed by Fenbushi Capital, HashKey Capital, and Enterprise Singapore. It has established a global network across Singapore, Shanghai, and Hong Kong. It also offers end-to-end support across the gamut of strategy preparation, go-to-market implementation, and subject matter guidance across technology, marketing, and fundraising.

It has so far invested in and established associations with some blockchain protocols, including Polkadot, a blockchain protocol that emphases on interoperability; Filecoin, a decentralized storage network; and Algorand, an open-source, permissionless, and proof-of-stake blockchain. The VC firm said that it has also accelerated more than 30 startups, with its portfolio securing a combined US$ 25M.

“Blockchain is one of the most disruptive technologies in our generation and will have a far-reaching impact across all key verticals, with the financial industry reaping the most immediate benefits,” said Emma Cui, co-founder and CEO at LongHash Ventures.

A few days ago, the firm had also announced the names of the 11 startups selected for its latest accelerator program, Filecoin Frontier Accelerator. The program started on February 2, 2021 and will go on till April this year. Over the next 12 weeks, the program will provide end-to-end support in areas like strategy formulation, go-to-market execution, and subject matter guidance for technological guidance, token economics, marketing, and fundraising.

The accepted projects will each receive US$ 20K in grant funding and will also be eligible for further funding from a US$ 1.5M investment pool, as reported by LongHash. The selected startups are Atomica, Curio Digital, Filbox, Huddle 01, Myel, NonEntropy Tech, Numbers Protocol, OPGames, Ownership Labs, Vera AI and Sinso Technology.

The worldwide blockchain market is projected to touch US$39.7 billion by 2025, a figure that has increased by a compound annual growth rate of 67.3% from US$3 billion in 2020, according to a research by Markets and Markets.

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

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