Spartan Group, a Singapore and Hong Kong-based digital asset advice and investment firm, has announced the formation of a $100 million web3 venture fund.
Spartan, a startup, was created five years ago with the primary objective of providing both crypto-savvy money and world-class professional advice services.
The business has today announced the establishment of Spartan Labs — a Web3 venture-building studio — using the network of customers and portfolio companies it has developed over the last five years, inspired by hundreds of entrepreneurs around us. Spartan Labs will concentrate on collaborating with the top entrepreneurs and operators to grow with their portfolio companies and clientele.
According to the company, Shaun Heng has been appointed as the Head of Spartan Labs at Spartan Group because he ” has a rare combination of experiences that make him the perfect fit to lead Labs at Spartan”
He is a seasoned company builder who is passionate about Web3 and cryptocurrency. He also has a large network in the crypto world as well as traditional businesses and VCs, particularly in Singapore and SEA.
Spartan Group was created in 2017 and has two major businesses: a crypto advising business focused on mergers and acquisitions and token fundraising, and a crypto investment business with a hedge fund and a venture fund.
It has previously participated in notable crypto financing rounds for firms like as Bonfida, a decentralized exchange (DEX), and 1inch, a DEX aggregator. Spartan Group formerly worked as the M&A counsel for Blockfolio, a cryptocurrency data app.
Spartan Group co-founder Kelvin Koh said that the company’s ultimate objective with DeFi is to “create significant disruptions to the existing financial system over the next 20 years.”
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