The Chinese venture firm Sino Global Capital announced the launch of a $200 million fund. The capital will be used to back startups in the Solana and Ethereum ecosystems, including those linked to DeFi— and NFT-infrastructure, The Block reports.
A substantial portion of the capital in the closed Liquid Value Fund I was contributed by partners such as FTX. The venture firm participated in the penultimate funding round for the crypto-derivatives exchange in July.
According to the publication, Sino Global Capital has also invested in Solana, Serum and Wintermute. The involvement in projects such as LayerZero, Clear pool, Orca will be rolled over into the new fund.
Sino Global Capital plans to adhere to an «bottom-up» investment approach and to give preference to startups from India.
We will support entrepreneurs with values aligned to building high trust and long-term ecosystem development. We will continue aggressive outreach and engagement with the best teams in India, — explained the firm\’s CEO, Matthew Graham.
In September ForkLog reported that Indian authorities planned to tax Bitcoin exchanges and digital-asset transactions instead of banning cryptocurrencies.
In January, a bill was introduced in the parliament of the country proposing to ban cryptocurrencies. However, the document was never presented. In June Bloomberg reported on the government\’s plans to consider the possibility of regulating the class of digital assets.
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