NextTech Group, a tech corporation managing 20 platforms to support digital transformation in Vietnam and Southeast Asia, has launched a US$50-million blockchain fund.
Next100 Blockchain will invest in exchange for equity and digital assets (tokens) in early-stage blockchain startups. Before the capital injection, projects need to go through a due diligence process implemented by AntLaunch, a decentralised platform that allows crypto-based projects to fundraise. AntLaunch is a launchpad of AntEx, a fintech blockchain startup that raised US$2.5 million from NextTech in October.
The appraisal process covers eight aspects, including team, feasibility, tokenomics model, technology, legality, digital asset management process, finance and accounting, and marketing and sales capabilities, assisting the crypto investment community to avoid the risk of fraud.
“The uniqueness of Next100 Blockchain is the evaluation process and confirmation of the capability and authenticity of the startup,” said Binh Hoa Nguyen, CEO and founder of NextTech Group. “In addition, the fund accompanies and consults development strategies and supports the publicity of blockchain projects to connect with the crypto investment community and other reputable funds in the world.”
Next100 Blockchain will also serve as a venture builder to incubate entrepreneurs and qualified technical experts in the blockchain domain to start businesses under NextTech Group.
Also read: VCs, IEOs, and crowdfunding: How the likes of Sky Mavis manage good relationship with each investor
Co-founded in 2021 by CEO Henry Tran, AntEx is a fintech blockchain ecosystem that offers blockchain wallet AntEx, liquidity and token locking function AntLock, and open-source stable coin VNDT apart from AntLaunch.
VNDT is a stable coin that is pegged to VND (rate of 1:1). The liquidity is supplied by Ngan Luong payment gateway. VNDT has price stability to be used in e-commerce transactions, loans, investments, within the AntEx ecosystem.
AntLaunch offers two products with different features: Initial Liquidity Offering (ILO) and Initial DEX Offering and Vesting (IDOV). These features are said to address current launchpads’ issues, be it centralised or decentralised.
After the investment from NextTech, AntEx, through Antex.org and VNDT.com, launched a token sale, boasting of raising “millions US dollars” in only 30 seconds.
The partnership enables AntEx’s financial technology products to capitalise on NextTech’s large number of users on a multi-platform ecosystem spanning payment gateway Ngan Luong, payment platform mobile wallet Vimo, and e-marketplace Chodientu.vn.
AntEx’s roadmap also shows it plans to launch an NFT marketplace, VN Smart Chain, and AntEx Academy & Research until 2022.
According to a report by CB Insights, in the first nine months of 2021, global blockchain financing soared to reach US$15 billion, an increase of 384 per cent compared to US$3.1 billion in 2020.
As stated by Satis Group, approximately 80 per cent of initial coin offers (ICOs) are frauds, with just 8 per cent making it to the trading stage on cryptocurrency exchanges.
Vietnam was recorded at the second-highest bitcoin adoption rate out of the 74 nations in the Statista Global Consumer Survey. In addition, more than half of Vietnamese (59 per cent) said they would consider investing in cryptocurrencies in the future. About 31 per cent said they would use cryptocurrency for online payments, according to Cryptoassets in Asia report.
—
Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.
Image Credit: AntEx
The post Vietnam’s NextTech sets up US$50M fund to invest in blockchain startups in SEA appeared first on e27.