LongHash Ventures, an Enterprise Singapore-backed accelerator and investor focusing on early-stage blockchain startups, has launched a US$15 million fund, says a TechInAsia report.
The new fund will focus on investing in startups leveraging Web 3.0 infrastructure components and decentralised finance (DeFi).
DeFi refers to an ecosystem of financial applications that are built on top of blockchain networks.
Founded in 2018 and based in Singapore, LongHash Ventures seeks to build the native Web 3.0 blockchain economy through a global network across the Republic, Shanghai and Hong Kong. The company also runs a 12-week accelerator programme, which has accelerated over 30 companies and its portfolio companies have raised a combined US$25 million.
Companies within its portfolio include Pravica, an emails and communications software which provides privacy and security through blockchain; ViewBase, a blockchain analytics platform for cryptocurrency traders; and Xanpool, an automated P2P crypto to fiat platform.
Besides Enterprise Singapore, LongHash Ventures is also supported by Fenbushi Capital and HashKey Capital.
“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.
According to a report research firm Markets and Markets, the global blockchain market is expected to grow at an annual compounded growth rate of 67.3 per cent to hit north of US$39.7 billion in 2025.
Image Credit: LongHash Ventures
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