Kul Bhushan · · 1 min readEx-Binance execs set up $100m crypto fund for emerging markets
Old Fashion Research (OFR), a VC firm set up by ex-executives of crypto exchange Binance, has launched a US$100 million fund, TechCrunch reported.
The fund aims to spur the adoption of cryptocurrency in markets including Africa and Latin America.
OFR has made investments in 50 blockchain projects, including NFT game Genopets and blockchain analytics firm Nansen. It has also backed Metaverse Magna, one of the largest gaming communities in Africa.
Ling Zhang and Wayne Fu established OFR in 2021. While Zhang served as vice president of mergers and acquisitions at Binance, Fu served as head of corporate development.
“We are very Southern Hemisphere-focused,” Zhang told TechCrunch. “We’ll go after all of the emerging markets, but it’s our goal and vision to accelerate adoption there.”
Editing by Deepti Sri and Eileen C. Ang
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