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Old Fashion Research, a VC firm founded by former Binance employees, has announced the launch of a new crypto fund amid the current downturn facing the market. 100 million The fund, which will have $100 million at its disposal, will focus its resources on metaverse investments and carrying crypto projects to emerging markets in the region, such as LATAM.
Old Fashioned Research launches $100 million fund
Several companies are still putting money into cryptocurrency projects and are optimistic about the future of the industry, even with the recent slump that some economies, traditional and crypto, are currently facing. a venture launched in 2021 by a former Binance employee, Old Fashion Research (OFR), a venture launched in 2021 by former Binance employees, is one such company.
company. Its name comes from the famous cocktail, and it has announced the launch of a new crypto-based fund to focus on the metaverse and introduce cryptocurrencies to emerging markets such as LATAM
Ling Zhang, one of OFR’s managing partners, told Techcrunch.
We are keen to work with builders on a long-term basis. We are very focused on the southern hemisphere… We go after all the emerging markets, but it is our goal and vision to accelerate adoption there.
operating under current market conditions
The fund has been operating discreetly and is the largest fund the firm has ever launched. However, Old Fashion Research lists several companies on its portfolio investment page, including blockchain analytics platform Nansen, cryptocurrency exchanges Woo and MEXC Global, and blockchain layer 2 groups such as Boba Network
The fund’s resources were drawn from limited partners, traditional VC funds, family offices, and angel investors.According to Zhang, the crypto space is booming as more companies are interested in its evolution. She states.
More VCs are looking for ways to invest in crypto projects. Crypto itself is a revolution and disruption of the capital plate. It is no longer centralized with a top-down approach.
Old Fashion Research also has its own take on the difficult times the crypto industry is currently facing. According to Jiang Xin, another partner at the firm, the current situation is beneficial for VCs who want to enter the field, as projects are cheaper and offer reasonable valuations. For the company, now is the best time to invest and incubate more projects.
Image credits: Shutterstock, Pixabay, Wiki Commons
