Cake DeFi, Singapore-based fintech platform that aims to make DeFi services and applications more accessible to the general public, today announced the launch of its venture capital (VC) arm Cake DeFi Ventures with US$100 million in earmarked capital.

The VC arm is led by Cake DeFi co-founders Dr Julian Hosp (CEO) and U-Zyn Chua (CTO) along with newly appointed Investment Partner Nicholas Khoo.

Cake DeFi Ventures is looking to invest in tech startups in Web3, gaming, and fintech, especially those in the metaverse, NFT, blockchain and e-sports industries that “will bring synergistic value to Cake DeFi’s core business.”

Looking to invest in startups from around the world, by the time of the firm’s launch, Cake DeFi Ventures has already invested in tech, media and events startup The Edge Of Company. In a press statement, the firm said that it is currently in talks with a number of startups in Southeast Asia (SEA), the US, and Europe.

“Cake DeFi Ventures is looking for strategic investments that will bring synergies to Cake DeFi’s core business and long-term goals, especially as we enhance and broaden our Web3 offerings. We therefore are in search of startups that possess unique technological and business value propositions (especially in Web3, gaming and fintech) as well as bring us access to a wider Web3 ecosystem. Importantly, the founders have to share our same values and vision for the Web3 space,” explains Chua in an email interview with e27.

The firm plans to “keep the number of investments open for now” depending on the size of respective investments and the number of projects they come across.

Also Read: Demystifying NFTs and DeFi

When asked about the advantages that startups can get by working with Cake DeFi Ventures, Chua said that as a native in Web3 and fintech vertical, the firm has deep insights and immediate visibility to the latest trends, technological innovations and game-changers in this space.

“And because we are entrenched in the Web3 space, we are able to offer more strategic value as investment partners beyond just capital injections. We are able to give them access to resources, proprietary R&D and connections that will aid startups to grow in this space. As a global company with customers in 191 countries, we are able to offer expertise and networks to support these startups in their own global expansion plans,” he said.

About Cake DeFi

As a fintech platform, Cake DeFi described itself as a platform that aims to provide access to decentralised financial services and applications by enabling users to generate returns from their crypto and digital assets. Operated and registered in Singapore, the company said that it is fully compliant with all regulatory requirements of the Monetary Authority of Singapore (MAS).

Cake DeFi offers three options to generate cash flow and passive income: Lending, Staking and Liquidity Mining. Its pay out rewards twice a day for Staking and Liquidity Mining.

In 2021, Cake DeFi said that it saw a tenfold growth in its registered customer base, with over US$1 billion customer assets. In the same year, its customers received over US$230 million in rewards.

“Global crypto adoption grew by over 800 per cent in 2021, as estimated by blockchain data platform Chainalysis. We naturally saw a huge growth in Cake DeFi’s customers as we offer an easy, safe and fully-transparent platform for cryptocurrency holders to access decentralized financial services and applications to earn cash flow from their crypto. Last year alone, we were able to tenfold our number of registered users. We also paid out US$230 million to our customers, bringing real value and cash flow to our customers,” Chua explains the reason behind the platform’s rapid growth.

Also Read: To infinity and beyond: Why 2022 will be the year of Web3

“Our Trustpilot score (4.8) is one of the highest in our industry which shows that our customers trust us and we bring real value to them. This has helped to generate strong word of mouth and build credibility with our customers. Today, understanding of cryptocurrency is still at a pretty low level. – and we therefore actively educate all potential and existing customers. We even have a programme called Learn & Earn where new customers can earn crypto while deepening their understanding.”

—

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Image Credit: Cake DeFi Ventures

 

The post Cake DeFi launches US$100M venture capital arm for global startups in Web3, gaming, fintech appeared first on e27.