Cake DeFi, a Singapore-based financial technology company, 100 million dollars With the new investment fund, it will invest in startups working on technologies such as Web 3, non-fungible token, and metaverse.
Cake DeFi Ventures The budget of the investment fund (CDV) was covered by Cake DeFi, which allows users to trade, lend and staking cryptocurrencies.
According to the company’s announcement today, CDV will be investing in startups around the world that develop products related to Web 3, metaverse, NFT, gaming, and fintech.
The fund will be led by Julian Hosp, who also co-founded Cake DeFi, and U-Zyn Chua.
Hosp said in a statement about the fund they have established, that Cake DeFi is now the center of Singapore and Southeast Asia. one of the fastest growing platforms to the ventures they will invest in. that they can support globally told.
Cake DeFi will expand its user base by the end of 2021. magnified ten times and had a remarkable growth. The number of users of the company only in the fourth quarter of the year doubled in size.
Although the details of the agreement between the parties have not been disclosed, the media and technology company of the investee, where Cake DeFi Ventures has already made its first investment. The Edge of Company was stated.