Old Fashion Research Launches $100M Crypto Metaverse Fund for Latin America and Emerging Markets – Bitcoin News

Venture capital firm Old Fashion Research, founded by ex-Binance employees, has announced the launch of a new crypto fund amid the current downturn facing the market. The fund, which will have $100 million in funding, will focus resources on Metaverse investments and bringing crypto projects to emerging markets in regions such as Latin America.

Old Fashion Research launches $100 million fund

Some companies are still pouring money into cryptocurrency projects and are optimistic about the future of the industry, even though recently some economies — traditional and cryptocurrencies — are currently facing recession. Old Fashion Research (OFR), a venture capital firm founded in 2021 by former Binance employees, is one of them.

This companywhich takes its name from the famous cocktail, which has Announce Launch of a new cryptocurrency-based fund focused on the metaverse and bringing cryptocurrency adoption to emerging markets such as Latin America.

Zhang Ling, one of OFR’s managing partners, told Techcrunch:

We are keen to work with builders in the long run. We are very focused on the southern hemisphere. …we will pursue all emerging markets, but our goal and vision is to accelerate adoption there.

Operation under current market conditions

So far, the fund has been operating quietly and is the company’s largest to date.However, Old Fashion Research lists several companies on its portfolio page, including a blockchain analytics platform Nansencryptocurrency exchanges Woo and MEXC Global, and blockchain layer 2 groups such as Boba network.

The fund’s resources come from limited partners, traditional venture capital funds, family offices and angel investors. According to Zhang, the crypto space is experiencing a boom as more companies are interested in the development of the space. she says:

More and more VCs are looking for ways to invest in crypto projects. Cryptocurrency itself is a revolution and subversion of the capital sector. It is no longer centralized in a top-down manner.

Old Fashion Research also has its own take on the difficult times the crypto industry is currently facing. Jiang Xin, another partner at the firm, said the current situation is favorable for venture capital investors looking to enter the field, as projects offer cheaper and more reasonable valuations. This is the perfect time for companies to invest and incubate more projects.

What do you think of OFR’s new $100M Metaverse and Crypto Fund? Let us know in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency craze on a social level, he offers a different perspective on the success of cryptocurrencies and how it can help the unbanked and underserved.

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