Huobi Launches $1B Venture Capital Arm Focused on Web3 Startups

Cryptocurrency exchange Huobi Global announced that it has launched a new DeFi and Web3 investment arm. Dubbed Ivy Blocks, the investment arm has over $1 billion in crypto assets under management to deploy to add value to the development of the blockchain industry. Huobi Forms Newly Investment Arm According to an announcement statement published Friday, Ivy Blocks will be providing three core services. Firstly, there will be a liquidity investment department providing an asset management platform for smart DeFi mining and income aggregation. There are also other departments called Ivy Labs, an innovative crypto and blockchain incubator; and Ivy Research, which focuses on blockchain and cryptocurrency research. 👏Welcome @IvyBlocks, an independent #crypto asset management ecosystem established by #Huobi! Ivy Blocks manages multi-billion dollar crypto asset and provides liquidity for communities. We strive to work towards an open and efficient network.💙 pic.twitter.com/raHEi20JwO — Huobi (@HuobiGlobal) June 10, 2022 Commenting on the launch, Huobi CFO Lily Zhang, said: “Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which presents significant barriers to growth. Our focus on providing such projects with liquidity investments and incubation services will no doubt contribute towards creating a better, more inclusive DeFi and web 3.0 blockchain ecosystem.” Capitalizing on the Cr...