Fintech company Cake DeFi which specializes in providing a platform for decentralized finance (DeFi) applications and services to its wide group of users has announced the launch of its new creation – Cake DeFi Ventures, also known as CDV.
The Singapore CDV currently operates as a new venture capital arm that has an earmarked capital of US $100 million in current holdings.
According to the latest reports on the company’s future plans of action, the CDV will gear its investments towards startups that specialise in the development and operation of Web3 and gaming platforms. Fintech companies will also feature in the list of firms on their investment portfolio.
Special emphasis will be given to firms and applications that offer services related to NFTs (non-fungible tokens), blockchain, metaverse as well as esports. These investment plans are set for a short-term period of two years. Along with this, CDV also plans to explore opportunities and expand its investments in startups around the globe.
Cake DeFi’s global connections and resources in and around the global blockchain industry will also come as a huge advantage for the venture capital’s portfolio of firms and companies.
US-based events and media company called The Edge of Company received the first investment from the venture capital CDV. The Edge currently prioritizes its goals to create a community and ecosystem that is primarily based and focused around Web3 and NFTs.
With Nicholas Khoo as its new investment partner, the venture capital arm will be pioneered by him on board along with the two of the co-founders of Cake DeFi – Julian Hosp and U-Zyn Chua.
Around the time of CDV’s creation and launch, Cake DeFi said in a statement that discussion with Southeast Asian startups had already reached a late-stage stage.