Cake DeFi, a Singapore-based fintech platform, announced it has launched a venture capital (VC) arm with $100 million in initial funds.
The unit said it is looking to invest in technology startups in Web3, gaming and fintech – especially those in the metaverse, NFT, blockchain and e-sports.
Cake DeFi has selected tech, media and events startup The Edge Of Company as the target of its first strategic investment by the VC arm, Cake DeFi Ventures (CDV).
“[CDV’s] know-how, relationships, and strategic insights will help propel this Web3 rocketship to new heights across our platform of tech, media, and events,” said Jeff Kelley, co-founder of The Edge Of company, an NFT platform.
“By launching Cake DeFi Ventures, we want to bring cryptocurrency and blockchain capabilities to the world,” chief executive Julian Hosp said.
“Cake DeFi is one of Southeast Asia’s fastest-growing fintech platforms. The projects that we invest in can expect to receive strong support scaling globally,” he added.
CDV is led by Hosp and U-Zyn Chua, Cake DeFi co-founders, along with newly appointed investment partner Nicholas Khoo.
- George Russell