Cake DeFi Introduces $100 Million Venture Capital Arm to Support Startups

The Singapore-based financial technology platform, Cake DeFi announced a major initiative to support emerging companies working in the Web3, Metaverse, Blockchain, and Fintech ecosystems, today. Cake DeFi has launched a $100 million venture capital arm.

Dubbed 'Cake DeFi Ventures' (CDV), the newly introduced venture capital arm will focus on startups in NFT, Blockchain and eSports industries. Emerging companies in the portfolio of Cake DeFi Ventures will receive support from its international and experienced team.

Moreover, the startups will receive a broad range of resources from Cake DeFi that will eventually help them in the development of their projects and industry networking.

“By launching Cake DeFi Ventures, we want to bring cryptocurrency and blockchain capabilities to the world. Cake DeFi is one of Southeast Asia's fastest-growing fintech platforms. The projects that we invest in can expect to receive strong support scaling globally,” Julian Hosp, the Co-Founder, and CEO of Cake DeFi, commented.

Strategic Investment

According to Cake DeFi, the company was already in talks with several global startups from Southeast Asia, Europe and the US. For its first strategic investment, Cake DeFi has selected 'The Edge Of Company', an emerging technology, media and events startup.

“The entire team at The Edge Of Company is honored to have Cake DeFi Ventures as part of the Edge family. Their know-how, relationships and strategic insights will help propel this Web3 rocketship to new heights across our platform of tech, media and events,” said Jeff Kelley, Co-Founder at The Edge Of Company.

The applications for the funding are now open and the company has asked startups to apply through email.

Amid growing adoption, leading players in the crypto ecosystem have increased their efforts to support crypto, blockchain and metaverse startups. Earlier this week, Avalanche Foundation launched a $290 million fund to grow the adoption of subnet functionality.