Old Fashion Research, a former Binance employee, announced that it has created a new cryptocurrency fund. This announcement comes amid the current market downturn. It will invest $100 million and will carry crypto projects into emerging markets, such as Latam.
Old Fashion Research Announces 100 Million Dollar Fund
Some companies are still putting funds into cryptocurrency projects, and are optimistic about the future of the industry even with the recent slump that some economies — traditional and crypto — are currently facing. Old Fashion Research, a venture firm that was started in 2021 from former Binance employees is another.
Company’s name derives from the famous cocktail.
Techcrunch spoke with Ling Zhang who is one of OFR’s managing partners.
For the long-term, we are open to working with builders. Our focus is on the Southern Hemisphere. … We’ll go after all of the emerging markets, but it’s our goal and vision to accelerate adoption there.
Operation during Current Market Conditions
This is the largest fund that Old Fashion Research has launched. Old Fashion Research does list several companies in its portfolio investments pages, including Nansen blockchain analytics platform, MEXC Global cryptocurrency exchanges Woo, MEXC Global blockchain layer 2 groups such as Boba Network.
Limited partners, traditional VC fund, family offices and angel investors provided resources for the fund. Zhang stated that the cryptocurrency space is seeing a boom because more people are becoming interested in its evolution. According to Zhang,
More and more VCs seek out ways to invest crypto projects. Crypto technology is disrupting the capital plate and causing revolution. It’s no longer centralized in a top-down approach.
Old Fashion Research has also a view on the current challenges facing the crypto sector. Jiang Xin is another firm partner. He believes the current market situation will be favorable to VCs who want to invest in this space because the projects have more attractive valuations. The company believes this is the ideal time to invest and incubate additional projects.
What do you think about OFR’s new $100 million metaverse and crypto fund? Comment below.
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