Popular blockchain company Huobi Group has just announced it is launching Huobi Ventures, a subsidiary aimed at investing in blockchain projects.
The fund, which has $100 million, will focus to invest in decentralized finance (DeFi) projects in periods of 3 years.
The division will be led by Huobi’s CFO Lily Zhang, who said:
“We have had separate teams focus on different investment strategies, but by bringing everyone together under a single entity, we can create a more cohesive strategy and continue to invest in and support the most innovative projects that are shaping the blockchain and DeFi spaces.”
It must be noted that Huobi has invested in blockchain and stablecoin projects in the past (around $69 million) so the DeFi space is just a new field in the crypto world the company invests in.
For instance, the company has previously invested in Ampleforth, Terra, Oasis Network, and Optimism, among others.