LBank Labs Makes Strategic Investment in Crypto VC Collab+Currency
Road Town, British Virgin Islands, June 8th, 2023, Chainwire
LBank Labs, the leading blockchain venture fund, has announced an investment in Collab+Currency, a crypto-focused venture fund backing early-stage startups building the next generation of culture and consumer technology. The strategic investment aims to foster innovation and support the growth of highly-scalable Web3 infrastructure on a global scale.
Collab+Currency is focused on identifying early opportunities in Web3, primarily investing in pre-seed and seed rounds. Its team has backed some of the most influential Web3 consumer projects in the world including Art Blocks, Blur, SuperRare, and Sky Mavis. During the past five years, the firm has backed around 100 projects working in nearly every vertical within crypto, including infrastructure, base-layer blockchains, service providers and NFTs. The majority of the firm’s investments revolve around a thesis that consumer applications will be the biggest winners in Web3.
By investing in Collab+Currency, LBank Labs aims to not only support a promising startup, but contribute to the advancement of consumer-focused technology and applications as a whole. This aligns with Labs’ mandate to identify like-minded startups who are passionate about shaping the future of consumer technology.
With $100 million assets under management, LBank Labs brings extensive financial resources and a vast global network to Collab+Currency. In turn, Collab+Currency will reciprocate by contributing significant value to LBank Labs, leveraging their expertise, strategic insights, and innovative approach to fuel mutual growth and success.
The venture fund also aims to forge its commitment by building a comprehensive network of Fund of Funds, designed to enhance the performance and diversification of its portfolios while emphasising the inherent value of its ecosystem network. Labs’ presence in seven global regions, including San Francisco, Dubai, Paris, Denver, Singapore, Mexico, and Shanghai, positions them as a powerhouse for fostering collaboration and innovation across borders.
LBank Labs, whose investment strategy is protocol and exchange-agnostic, is committed to supporting projects through direct funding, acceleration, incubation, and extensive networking. With $100 million assets under management (AUM), the venture capital arm of global cryptocurrency exchange LBank has a strong track record of nurturing startups and helping them thrive.
Besides direct investments in projects, the LBank Labs team aims to build a strong fund network via investing in global top funds to support portfolios from the network in both financial and resource value-add.
About LBank
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrency.
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