Cake DeFi is a decentralized finance investing platform based in Singapore. It announced the opening of its new $100 million venture capital arm, which will invest in innovative digital firms.
Furthermore, the new venture funding will be spread out over a 24-month period, according to the startup. The cash will be distributed to external startups that can ensure long-term success.
Cake DeFi Ventures will follow in the footsteps of its Web3.0 ecosystem rivals. It focuses on investing in Web3, gaming, and fintech firms. CDV, which is based in Singapore, will search for global investment possibilities in startups all around the world.
Simultaneously, Cake DeFi expects to provide considerable support to CDV portfolio firms. They allow users to gain access to a variety of Cake goods, connections, users, resources, and experience in the worldwide blockchain sector.
Cake DeFi Ventures’ Capabilities
Cake DeFi’s Co-Founder and Chief Executive Officer is Julian Hosp. He added that it aims to introduce cryptocurrency and blockchain capabilities to the rest of the world. Cake is currently Singapore’s and Southeast Asia’s fastest-growing platform. They should anticipate significant support for the projects they fund to scale globally.
However, Cake DeFi’s current Asian location will not prevent the venture capital firm from expanding to other regions throughout the world. The strategy is to invest in as many innovative and promising firms as possible around the world. This is true regardless of the firms’ country of origin.
Furthermore, the company announced its first investment in The Edge Of Company, Inc., a US-based media startup, as part of displaying its fundamental diversity tenets.
Cake DeFi’s Enormous Growth
Cake DeFi has experienced tremendous growth since its inception as a platform that provides value investment to the general population. Additionally, in 2021, the platform’s user base rose tenfold to 400,000. At the same time, it paid its clients a total of $230 million within the time range.
The new venture arm, according to the platform, will complement its expansion efforts as it strives to expand its Web3.0 products.
The company’s Co-Founder and Chief Technology Officer is U-Zyn Chua. Chua stated that they have built up an R&D arm with cryptography deep tech competence and specialization. This is as an extension of their various blockchains support and having built up an R&D arm with cryptography deep tech capability and specialty. He claims that by investing in firms that have synergies with Cake DeFi’s core business, the company will be able to improve its Web3 products.
In addition to Cake DeFi, Binance, Avalanche Blockchain, and even the European Union have launched their own ecosystem funds to support comparable Web3.0 developments.
