INFINITY VENTURES CRYPTO DECLARES CLOSING OF INAUGURAL FUND CAPPED AT US$70 MILLION

KUALA LUMPUR, Feb 9 (Bernama) -- Infinity Ventures Crypto (IVC) has announced the closing of its inaugural fund capped at US$70 million. The focus of the fund is to jumpstart and accelerate the growth of global GameFi, DeFi and Web 3 innovations. (US$1 = RM4.184)

As Asia’s most active fund targeting the region’s booming crypto industry, IVC is participated by heavyweights such as Circle, Digital Currency Group, and Animoca Brands. Since its founding in August 2021, IVC has injected capital and expertise into 78 portfolio companies.

With 13 years of experience in traditional venture capital under the sister fund Headline Asia, IVC leverages its global network to empower blockchain startups across the globe, including those in Southeast Asia, Taiwan, Japan, US, and others. As venture-building partners, IVC is committed to supporting its founders fully, from tokenomics design to cryptocurrency exchange listings.

“As a bridge between the East and West, we take a boots-on-the-ground approach by assembling teams of local experts to stoke the growth of our portfolio companies,” said IVC Partner Brian Lu in a statement.

“We’re proud to be off to a fast start and are excited to share our expertise with more innovators.”

IVC’s first investment was Yield Guild Games (YGG), a Philippine-headquartered play-to-earn gaming guild and DAO that invests in NFTs. IVC and YGG joined together to venture-build and incubate their first subDAO, YGG SEA, which will help provide localised support throughout the Southeast Asian region.

“Aligning with IVC’s vision to help the unbanked and the underbanked, these games provide an additional income stream to players during the pandemic,” said Lu.

IVC partners also include Akio Tanaka, founder of Headline Asia; Herbie Fu, former partner at 8 Decimal Capital; JT Law, co-founder of VerifyInvestor; Alex Yeh, co-founder of AuraBlock Ventures; and Richie Chaval Jiaravanon, former CEO of Snapask Thailand.

Since August 2021, IVC has made numerous strategic investments into a diverse range of startups including Yield Guild Games and the Japanese yen-pegged stablecoin, JPYC.

-- BERNAMA