Former Binance Executives Lead $100 Million Venture Fund


On Thursday, Old Fashion Research (OFR), a multi-strategy  blockchain  investment fund, said that it had launched a $100 million venture fund led by former Binance executives.

According to a press release shared with Finance Magnates, Ling Zhang, who was Binance’s vice president for M&A and investments, is one of OFR’s founders. Zhang was involved in the acquisition of FTX, WazirX, Swipe.io, Multicoin Capital, Tokocrypto, Chiliz, CertiK, and others during his tenure at the company.

OFR’s Founding Managing Partner, Wayne Fu, was formerly the Head of Corporate Development at Binance. He will bring his experience in exchanges and ecosystem partnerships. Jiang Xin’ JX’ heads up the Venture division, which has invested in Axie Infinity, Moonbeam, Alpha Finance, among other startups.

Wei Zhou, the former CFO of Binance and the new CEO of Coins.ph, the largest crypto wallet and  exchange  in the Philippines, will serve both as a strategic advisor and investor in OFR.

“We’re very excited to come out of stealth with our new fund and help build the next generation of Web 3.0 dApps. The OFR team has established solid knowledge and a wide range of experience across M&A, investment and incubation from our previous successful portfolio building at Binance. Deep down, we are a group of passionate builders, and we are keen to seek founders who share the same long term vision and passion of the crypto industry, and we are determined to grow with them together,” Zhang commented.

Other Limited Partners Participated in the Fund

Limited partners from both inside and outside the crypto ecosystem contributed to the funds raised by OFR. Leading gaming company Wemade is the lead investor in Wemix, the global gaming platform. A notable backer is Gang Wang’s family office, JUE Capital, which also invested in DiDi and SafePal, a crypto wallet.

On Thursday, Old Fashion Research (OFR), a multi-strategy  blockchain  investment fund, said that it had launched a $100 million venture fund led by former Binance executives.

According to a press release shared with Finance Magnates, Ling Zhang, who was Binance’s vice president for M&A and investments, is one of OFR’s founders. Zhang was involved in the acquisition of FTX, WazirX, Swipe.io, Multicoin Capital, Tokocrypto, Chiliz, CertiK, and others during his tenure at the company.

OFR’s Founding Managing Partner, Wayne Fu, was formerly the Head of Corporate Development at Binance. He will bring his experience in exchanges and ecosystem partnerships. Jiang Xin’ JX’ heads up the Venture division, which has invested in Axie Infinity, Moonbeam, Alpha Finance, among other startups.

Wei Zhou, the former CFO of Binance and the new CEO of Coins.ph, the largest crypto wallet and  exchange  in the Philippines, will serve both as a strategic advisor and investor in OFR.

“We’re very excited to come out of stealth with our new fund and help build the next generation of Web 3.0 dApps. The OFR team has established solid knowledge and a wide range of experience across M&A, investment and incubation from our previous successful portfolio building at Binance. Deep down, we are a group of passionate builders, and we are keen to seek founders who share the same long term vision and passion of the crypto industry, and we are determined to grow with them together,” Zhang commented.

Other Limited Partners Participated in the Fund

Limited partners from both inside and outside the crypto ecosystem contributed to the funds raised by OFR. Leading gaming company Wemade is the lead investor in Wemix, the global gaming platform. A notable backer is Gang Wang’s family office, JUE Capital, which also invested in DiDi and SafePal, a crypto wallet.



Source link

Related articles

The USD has misplaced floor in Asia commerce to open the brand new FX week

Excessive danger warning: International alternate buying and selling carries a excessive degree of danger that is probably...

Ripple CEO’s Previous Phrases On XRP’s Utility Resonate At present As Neighborhood Awaits ETF Resolution

Trusted Editorial content material, reviewed by main business specialists and seasoned editors. Advert Disclosure Ripple CEO Brad Garlinghouse’s feedback have lengthy emphasised that the worth of XRP is rooted in its utility within the...

How JD Vance performed a key function within the TikTok US deal, amid considerations concerning the VP performing as a company dealmaker within the...

Featured Podcasts Lenny's Podcast: A 4-step framework for constructing pleasant merchandise | Nesrine Changuel (Spotify, Google, Skype) Interviews with world-class product leaders and progress consultants to uncover actionable recommendation that can assist you construct, launch, and...

The Renaissance Of Actual Property Is Overblown, Contemplate IYRI As an alternative (BATS:IYRI)

This text was written byComply withRoberts Berzins has over a decade of expertise within the monetary administration serving to top-tier corporates form their monetary methods and execute large-scale financings. He has additionally made...

TotalEnergies expands Cognite partnership to scale industrial AI throughout world operations

TotalEnergies has entered a brand new section of its strategic partnership with Cognite, aimed toward scaling industrial synthetic intelligence (AI) throughout the entire firm’s operated upstream belongings worldwide.  ...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com