News

The Spartan Group has contributed $ 110 million to the new DeFi Fund

The Spartan Group has contributed $ 110 million to the new DeFi Fund.

Spartan Group raised $110 million for its DeFi fund, which institutional investors supported.

Initially, the Spartan Group’s management aimed to raise around $30 million in its new decentralized financing fund. However, investor interest ultimately exceeded all expectations, enabling a far higher sum to be obtained.

According to the fund’s officials, they plan to promote projects on Ethereum, Solana, and other blockchains, with a particular focus on DeFi applications. Over the following five years, the business plans to invest in 50 projects. She has previously made investments in dYdX and Arbitron.

According to CEO Jason Choi, they are particularly interested in Asian investors. Choi also mentioned that they keep a careful eye on the price condition and stick to a long-term approach since venture capital is simpler to recruit Asian investors than hedge funds.

First and foremost, such fees indicate institutions’ attitudes toward the decentralized finance industry. Despite the present gloomy state of the cryptocurrency market, it continues to expand at an astounding rate, and its potential is one of the crypto industry’s key engines today.

Initially, the Spartan Group’s management aimed to raise around $30 million in its new decentralized financing fund. However, investor interest ultimately exceeded all expectations, enabling a far higher sum to be obtained.

According to the fund’s officials, they plan to promote projects on Ethereum, Solana, and other blockchains, with a particular focus on DeFi applications. Over the following five years, the business plans to invest in 50 projects. She has previously made investments in dYdX and Arbitrum.

According to CEO Jason Choi, they are particularly interested in Asian investors. Choi also mentioned that they keep a careful eye on the price condition and stick to a long-term approach since venture capital is simpler to recruit Asian investors than hedge funds.

First and foremost, such fees indicate institutions’ attitudes toward the decentralized finance industry. Despite the present gloomy state of the cryptocurrency market, it continues to expand at an astounding rate, and its potential is one of the crypto industry’s key engines today.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button