Huobi to Unveil Wholly-owned Subsidiary with $100 Million Fund

Fazzaco learned that Huobi Group recently has rolled out a wholly-owned subsidiary called Huobi Ventures with a fighting fund of $100 million. The new company will focus on expanding Huobi’s venture investment portfolio as well as supporting different blockchain projects via long-term investment strategies.

According to the official press release, the subsidiary plans to place $100 million into early-stage blockchain and DeFi projects over the next three years, and $10 million will be used for establishing a non-fungible token (NFT) fund to invest NFTs and NFT trading marketplaces. In addition, the fund is also expected to be used to make strategic acquisitions.

Commenting on the newly launch, Lily Zhang, CFO at Huobi Group, said that the formation of Huobi Ventures is a more concerted effort to accelerate thegroup's growth at a pivotal point for Huobi. They have had separate teams focus on different investment strategies, but by bringing everyone together under a single entity, the group 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.