Fintech

Fintech Platform Cake DeFi Launches $100M Investment Venture

Key Insights:

  • Cake DeFi Ventures (CDV) will be investing in fintech startups across web3.
  • Cake DeFi’s Co-founder aims to spread blockchain awareness to 1 billion people by 2025
  • CDV is already making its first investment into “The Edge of Company’.

The Singapore-based DeFi (Decentralized Finance) service and application provider Cake DeFi announced its new venture arm. Cake DeFi Ventures (CDV) has been launched to support the development of new projects in web3.

The venture will be using $100 million in earmarked capital to invest in NFTs, Metaverse (The Sandbox, Decentraland, etc.), gaming, and fintech startups.

Cake DeFi’s New Venture

While the company already offers many services, Cake DeFi is looking to enhance its web3 offerings now. For the same, they are looking to invest in projects worldwide.

Cake DeFi Ventures will be led by the co-founders Dr. Julian Hosp and U-Zyn Chua, who also act as the CEO and CTO of Cake DeFi, respectively.

Sharing the news of the announcement, Dr. Hosp stated,

“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”

As an entrepreneur and a leading influencer in the crypto space, Dr. Hosp intends to bring blockchain awareness and understanding to a billion people by 2025.

Along with U-Zyn Chua, a blockchain engineer and investor, Dr. Hosp built Cake DeFi to become a leading investment platform for DeFi and up-and-coming alternative assets from Singapore.

Iterating on CDV, U-Zyn Chua said,

“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.”

First Step

CDV already made its first investment into “The Edge of Company.” The company is a leading NFT podcast and ecosystem builder that created the NFT LA conference.

The soon-to-be-hosted event will be the largest NFT and web3 gathering in Southern California. Investment in The Edge of Company will be a gateway for Cake DeFi into NFTs and web3.

Source: https://www.fxempire.com/news/article/fintech-platform-cake-defi-launches-100m-investment-venture-925455

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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