Cherubic Capital invests 300 million in blockchain

American venture capital firm Cherubic Venture has launched a RMB 300 million fund and will make early investments in digital currency and blockchain innovation companies.

Xue Xue, the chief partner of Cherubic Capital in China, said that this fund has received strong support from Shengshi Capital and Ningbo Municipal Government, and will focus on Internet financial innovation, especially domestic blockchain applications. At the same time, due to the characteristics of digital currency, some projects will also involve direct investment in digital currency. In addition, it will also provide follow-up help and support to entrepreneurs by establishing incubators, providing entrepreneurial consultants and mid- and late-stage investment docking services.

The reporter learned that Cherubic Capital has been focusing on early-stage angel investment, and the company's vision is to "become an early investor in great companies". Cherubic Capital has deployed hundreds of early-stage angel investment projects around the world, with major investment projects in China and the United States, and has offices in Los Angeles, Beijing and Taipei. Cherubic Capital's investment portfolio in the United States has been valued at billions of dollars. Cherubic Capital also has investment cases in China, including Jindan Financial Management and Tiange Interactive, which started from the seed round and eventually went public.

At present, overseas R&D and investment in blockchain technology are being promoted with great enthusiasm. This field has been recognized by the industry as one of the most disruptive technological revolutions in the financial industry and information industry after cloud computing. Since the beginning of this year, 21INC has received a huge financing of US$160 million led by Qualcomm , blockchain payment startup AlignCommerce has received a US$ 12.5 million investment led by KPCB , and blockchain infrastructure startup Chain has announced a US$ 30 million venture capital investment from multiple institutions including Visa, Nasdaq , and Citibank. In addition to overseas investment, large financial institutions and IT companies such as Nasdaq, Citibank , UBS, Deloitte, IBM , and JPMorgan Chase have also established business platforms for applying blockchain technology or registered related patents internally. In China, digital currency and blockchain innovation are still in the early stages, with a lack of talent and loss, and a lack of support for the industry. Although China started early, it has already lagged behind the world's development pace in this field. This early RMB fund initiated by Cherubic Capital can be said to be a timely help, which will play a positive role in promoting and promoting the development of the industry.