China's Huiyin Group Launches $20 Million Bitcoin Fund
Huiyin Group, a multibillion-dollar investment company based in China, has announced the launch of Huiyin Blockchain Ventures (HBV), a subsidiary fund focused solely on investments in the sector. Launching with $20m in committed capital, HBV will now seek to invest the funds over the course of the next six to 12 months. The fund will be managed by James Wo, the son of Huiyin Group founder, and focus on improving the blockchain ecosystem through investments in infrastructural projects and new use cases. But while the firm may have "blockchain" in its name, those close to the fund....
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Bitcoin startups are due to see a windfall in investment after multibillion-dollar Chinese investment firm Huiyin Group announced the launch of its bitcoin- and blockchain-specific subsidiary fund, Huiyin Blockchain Ventures (HBV). As stated on its website, the new subsidiary fund will partner “with innovative start-ups and entrepreneurs to help them grow and define the future of the blockchain economy”. The fund will look toward investing $20 million in bitcoin and blockchain companies over the course of 2016. HBV will be managed by James Wo, who is the son of the founder of the Huiyin....
Two months after it first announced a $20m fund that would focus exclusively on bitcoin and blockchain startups, Huiyin Blockchain Venture is doubling down on its commitment. The China-based investment firm, a subsidiary of investment conglomerate Huiyin Group, revealed to CoinDesk that the fund has now collected a total of $80m, which will be placed strategically into startups. A representative for the firm indicated that Huiyin Blockchain Venture is now considering investments in companies looking for seed-stage and Series A and B investments, with a wide focus on the companies that....
Argentinian bitcoin startup Ripio has announced what may be the first funding round of the new year, raising $1.9m in new capital amid a rebranding. The company plans to raise an additional $400,000 in funding over the next 90 days via AngelList, bringing its total funding to $2.3m. The Series A round was led by Huiyin Blockchain Venture, a China-based VC fund launched late last year by multi-billion-dollar investment firm Huiyin Group. Other participants in the round included Boost VC, Digital Currency Group and Draper VC – investors that also took part in the startup's $600k funding....
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