Multi-strategy blockchain funding fund Outdated Style Analysis (OFR) has accomplished its first shut. Led by a number of former executives from Binance, OFR invested in over 50 blockchain initiatives in its first 12 months.
In response to an announcement, Outdated Style Analysis is now popping out of stealth mode, by which it has been working since its basis in late 2021. Since that point, OFR put cash in additional than 50 firms in several markets, corresponding to WOO Community, Genopets, Metaverse Magna, MetaDerby and ZetaChain.
The fund was based by Ling Zhang, the previous vice chairman of mergers and acquisitions, and investments at Binance; and Wayne Fu, former Binace head of company growth. Jiang Xin “JX” who led Binance Labs’ and Launchpad’s main funding offers, is heading OFR’s venture arm. Zhang stated:
We’re eager to hunt founders who share the identical long-term imaginative and prescient and fervour for the crypto business, and we’re decided to develop with them collectively.”
Associated: Cointelegraph Analysis launches venture capital database
OFR raised funds from numerous main restricted companions from inside and out of doors the crypto business. The lead investor is gaming platform Wemix, backed by the listed main gaming firm Wemade. Different notable backers embrace the household workplace of Gang Wang, JUE Capital, who was the founding investor at DiDi and crypto pockets SafePal.
On Might 25, venture capital big a16z introduced closing its fourth cryptocurrency fund at $4.5 billion. The information got here lower than a 12 months since Andreessen Horowitz introduced the launch of its $2.2 billion Crypto Fund III.
