Fintech Platform Cake DeFi Launches a $100 Million Venture Arm to Invest in Web3
The Singapore-based financial technology company – Cake DeFi – introduced its corporate venture arm, called Cake DeFi Ventures. With $100 million in earmarked capital, the feature will enable the firm to interact with Web3, gaming, and fintech startups.
In addition, Cake DeFi partnered with The Edge of Company to hop on the NFT bandwagon.
The New Development
According to a document seen by CryptoPotato, Cake DeFi Ventures (CDV) will be headquartered in Singapore (just like its parent company). The venture arm will invest in tech startups across Web3, the Metaverse, the NFT space, esports, gaming, and the fintech universe.
The heads of CDV will be Cake DeFi’s Co-Founders – Dr. Julian Hosp and U-Zyn Chua. The former is a blockchain entrepreneur and an experienced participant in the cryptocurrency ecosystem. One of his visions include bringing blockchain awareness and understanding to 1 billion people by 2025. Commenting on the most recent feature, Dr. Hosp said:
“By launching Cake DeFi Ventures, we strive towards bringing cryptocurrency and blockchain capabilities to the world. With Cake’s current status as Singapore’s and Southeast Asia’s fastest-growing platform, projects which we invest in can expect to receive strong support scaling globally.”
U-Zyn Chua is an enthusiast and investor in the digital asset market. His main interest is decentralized systems, specifically their design and development. He believes that CDV will enable Cake DeFi to successfully interact with the Web3 realm:
“As an extension of our multiple blockchains support and having built up an R&D arm with cryptography deep tech capability and specialization, investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance our Web3 offerings.”
The Partnership With The Edge of Company
The Singaporean firm also made its first investment in The Edge of Company. The latter is a media, events, and tech venture oriented towards the non-fungible token space.
Jeff Kelley – Co-Founder of The Edge of Company – said his team is “honored” to engage professionally with Cake DeFi. “Their know-how, relationships, and strategic insights will help propel this Web3 rocketship to new heights across our platform of tech, media, and events,” he added.
Not long ago, The Edge of Company created the NFT LA conference. It will be hosted on March 28-31, 2022, as it will be the largest NFT and Web3 gathering in Southern California. The podcast will feature over 100 episodes, where it will mention the most popular non-fungible tokens and many other details from the blockchain world.
