Huobi Launches Investment Arm With $100 Million Fund
- Huobi Ventures will consolidate the company’s existing investment vehicles into a single entity.
- The new venture arm will deploy $100 million into early-stage DeFi protocols and $10 million into NFT projects in the next three years.
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In a press release published on 13 May, Huobi Global announced the launch of its wholly-owned subsidiary focused solely on venture investing. Huobi Ventures will deploy $100 million into early-stage blockchain and DeFi projects in the next three years and establish a $10 million NFT fund.
The new venture arm will consolidate several existing investment vehicles—Huobi Capital, Huobi DeFi Labs, and the Huobi Eco Fund—into a single entity that will drive the company’s investment strategy. Huobi has invested over $69 million into hundreds of blockchain projects to date, recording a return of approximately $215 million.
“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,” said Lily Zhang, the CFO of Huobi Group.
She noted that Huobi Ventures will build on the company’s momentum and focus on two key areas—corporate mergers and acquisitions, and venture capital. The mergers and acquisitions arm will focus on integrating various product offerings into Huobi’s suite of applications, while the venture capital unit will make long-term investments into emerging DeFi projects.
- The Securities Commission Malaysia ordered Huobi Global to stop all of its activities in the country as it was not registered with the regulator, and was operating illegally.
- The exchange was also directed to disable its website and mobile applications, as well as cease all advertising of its products and services in the country.
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- Cryptocurrency exchange Huobi revealed that it is working on acquiring a crypto trading license in Hong Kong, and on opening a new trading platform in the city.
- The expansion was motivated by the Securities and Futures Commission’s (SFC) upcoming licensing regime, which could also allow retail investors to trade crypto.
- North Korea’s Lazarus Group has moved around $63.5 million of crypto assets connected to the Harmony bridge hack over the weekend.
- The hackers tried to move a portion of the funds through Binance and Huobi, but the exchanges were able to freeze their account and recover around 124 BTC.