Cake Defi launches a new $100M venture arm
Cake DeFi, Singapore-based decentralized finance (DeFi) services provider, has announced the establishment of a $100 million venture arm focused on Web3, gaming, nonfungible tokens (NFT), and other crypto initiatives.
According to Cake DeFi, the venture firm “will be focused on investing in tech startups across Web3, the metaverse, the NFT space, gaming, esports and fintech spaces.”
Cake DeFi co-founders Dr. Julian Hosp, CEO, and U-Zyn Chua, CTO, lead CDV. Dr. Hosp is a seasoned blockchain entrepreneur who is widely considered a top influencer in the crypto and blockchain field, having over one million followers across all of his platforms. By 2025, he expects a billion people to be aware of and understand blockchain technology. U-Zyn has been designing and developing decentralized systems for over a decade as a blockchain engineer, enthusiast, and investor. Cake DeFi was founded by them with the goal of being the world’s top investment platform for DeFi and other up-and-coming alternative assets, based in Singapore.
Besides the investment of the firm, the announcement stated that “Portfolio companies have the opportunity to access numerous Cake products, connections, users, resources, and expertise within the global blockchain industry.”
According to a recent analysis from accounting firm KPMG, Singapore’s crypto-related investments increased by 10x last year, from $110 million in 2020 to $1.48 billion in 2021.
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