Cake DeFi launched $100 M venture-finance arm for worldwide Web3, gaming, and fintech firms
Cake DeFi, a Singapore-based fintech platform that wants to make DeFi services and apps more accessible to the general public, announced the formation of Cake DeFi Ventures, a venture capital arm with a US $100 million fund.
Cake DeFi co-founders Dr Julian Hosp (CEO) and U-Zyn Chua (CTO), as well as newly hired Investment Partner Nicholas Khoo, lead the VC arm.
Cake DeFi Ventures is searching for Web3, gaming, and fintech firms, particularly in the metaverse, NFT, blockchain, and e-sports industries, that “would provide synergistic value to Cake DeFi’s core business.”
Cake DeFi Ventures, which aims to invest in businesses from all over the world, has previously invested in The Edge Of Company, a tech, media, and events venture, at the time of its inception. According to a news release, the company is in negotiations with a number of companies in Southeast Asia (SEA), the United States, and Europe.
Depending on the magnitude of individual investments and the number of projects they come across, the business intends to “keep the number of investments open for the time being.”
Cake DeFi describes itself as a fintech platform that intends to give access to decentralised financial services and apps by allowing users to earn money with their crypto and digital assets. The firm, which is based and incorporated in Singapore, claims to be completely compliant with all Monetary Authority of Singapore regulatory standards (MAS).
Lending, Staking, and Liquidity Mining are three strategies for generating cash flow and passive revenue on Cake DeFi. Staking and Liquidity Mining incentives are given out twice a day.
Cake DeFi reported a tenfold increase in its registered client base in 2021, with over $1 billion in consumer assets. Customers got almost $230 million in prizes in the same year.
“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.
