In a recent announcement that promises to provide acceleration to blockchain projects, LBank Labs, a renowned blockchain venture fund, has made a strategic investment in Collab+Currency. This partnership is set to boost the growth and scalability of blockchain technologies, marking a significant development for emerging Web3 infrastructures.Â
LBank Labs Supports Collab+Currency’s Vision
LBank Labs, a renowned blockchain venture fund, announced its recent investment in Collab+Currency, a venture fund focused on cryptocurrencies. Collab+Currency specifically supports early-stage startups that are creating innovative culture and consumer technology for the future. This strategic investment by LBank Labs aims to enhance innovation and facilitate the growth of highly-scalable Web3 infrastructures worldwide.
LBank Labs is well-known for its inclusive approach that is not limited to specific protocols or exchanges. The organization is dedicated to supporting projects through various means, such as direct funding, acceleration, incubation, and extensive networking. With $100 million in assets under management (AUM), LBank Labs’ venture capitalist arm has a proven track record of nurturing startups and helping them succeed.
In addition to providing direct investments in projects, LBank Labs aims to establish a robust fund network by investing in top global funds. This approach enables them to support portfolios from the network by providing both financial resources and value-added resources. It is worth noting that Czhang Lin, an IC board member of Labs, personally serves as a limited partner (LP) for NGC, Blockchain Founders Fund, and Lemniscap. Eric He, the Co-Founder of LBank, is an LP for SevenX Ventures fund I, II, and FOF, as well as IOSG Ventures.
Collab+Currency Aims To Back Promising Blockchain Startups
Collab+Currency is a venture fund focused on cryptocurrencies that supports early-stage projects aiming to shape the future of culture and consumer technology. The firm primarily invests in pre-seed and seed rounds, focusing on the earliest-stage opportunities in Web3. Over the past five years, Collab+Currency has invested in approximately 100 projects spanning various sectors within the crypto industry, such as infrastructure, base-layer blockchains, service providers, and NFTs.Â
Their investment strategy is centred around the belief that consumer applications will be the most successful in the Web3 space. Collab+Currency has provided backing to influential Web3 consumer projects globally, including Art Blocks, Blur, SuperRare, Sky Mavis, and several others.
Blockchain projects, like any other technological endeavour, require substantial capital. This capital is necessary to cover a wide range of costs, from research and development to hiring skilled personnel and maintaining robust security measures. Investments from blockchain venture funds provide the financial support that these projects need to get off the ground and sustain their operations.
Labs’ investment in Collab+Currency not only aims to support a promising startup but also contributes to the advancement of consumer-focused technology and applications as a whole. Labs seeks to align itself with a dynamic and engaged community of startups that share a common vision of shaping the future of consumer technology.
With $100 million in assets under management, LBank Labs brings significant financial resources and an extensive global network to Collab+Currency. In return, Collab+Currency will provide substantial value to LBank Labs by leveraging their expertise, strategic insights, and innovative approach to driving mutual growth and success.
Additionally, the venture fund is dedicated to fulfilling its commitment by establishing a comprehensive network of Fund of Funds. This network aims to enhance the performance and diversification of portfolios while emphasizing the inherent value of the ecosystem network.
With a presence in seven global regions, including San Francisco, Dubai, Paris, Denver, Singapore, Mexico, and Shanghai, Labs stands as a powerful force in promoting collaboration and innovation across borders.
