Cake DeFi, Singapore-based decentralized finance (DeFi) platform, has launched a new corporate venture arm called Cake DeFi Ventures (CDV). Cake Defi has invested $100 million in the new venture targeting Web3, gaming, and fintech startups.
The new corporate venture arm shall go a long way in empowering Cake DeFi’s user base that spans over half a million registered users.
The Cake DeFi Ventures (CDV)
The CDV shall focus on investing in tech startups across the metaverse, Web3, gaming, esports, and NFTs space that will bring value to Cake DeFi’s main business. The venture shall not only focus on startups in Singapore but look for global investment opportunities.
The CDV is led by Cake Defi’s co-founder Dr. Julian Hosp, Cake DeFi’s CEO, and Cake DeFi’s CTO U-Zyn Chua. These three are the founders of Cake DeFi and the main objective of the project was to build the world’s leading investment platform for DeFi and upcoming alternative assets in Singapore.
The startups that make it to the CDV portfolio can expect to receive strong support from Cake DeFi besides being able to access the many Cake products, users, connections, and resources around the world.
Julian Hosp said:
“By launching Cake DeFi Ventures, we strive towards bringing cryptocurrency and blockchain capabilities to the world. With Cake's current status as Singapore's and Southeast Asia's fastest-growing platform, projects which we invest in can expect to receive strong support scaling globally.”
U-Zyn Chua went ahead to add:
“As an extension of our multiple blockchains support and having built up an R&D arm with cryptography deep tech capability and specialization, investing in companies that bring synergies to Cake DeFi's core business will allow us enhance our Web3 offerings.”
Applying for funding from the CDV
To apply for funding from the new venture capital, startups should send an email to [email protected] explaining their project details.
The team at Cake DeFi will then contact the shortlisted projects.
The venture capital is also open for Venture capital firms or investment funds interested in co-investment opportunities or strategic partnerships.