Singapore VC firm launches $10M dedicated cryptocurrency fund

posted 8 days ago
Singaporean venture capital firm Golden Gate Ventures is launching what seems to be Southeast Asia’s "first dedicated VC cryptocurrency fund" with $10 million in investment capital. Named LuneX Ventures, the fund will see a "laser-like focus" on the cryptocurrency & blockchain space by investing in early-stage startups including crypto exchanges.

Founding partner Kenrick Drijkoningen said “We view blockchain as a foundational technology, on a par with or possibly exceeding the Internet in disruptive potential. Right now valuations have come down to more reasonable levels and the industry is moving from pioneers to early adopters, which is a great time to start investing.” Beyond cryptocurrency exchanges, the fund will also target startups devising practical solutions to custody & security requirements in the crypto sector, for example “institutional services” will be targeted.
Tags: bitcoin, blockchain, news