Monday, July 22, 2024

Cake DeFi announces launch of venture arm with a funding of $100 million

Cake DeFi is a decentralized finance services company basined in Singapore. Just recently, the company announced that it is launching venture arm with a funding of $100 million. This arm will serve as an accelerator of technologies like gaming, NFT, Web3 and other initiatives in the crypto domain.

Called CDV or Cake DeFi Ventures, the newly launched arm is going to focus solely on funding startups that complement its core businesses. Cake DeFi’s primary services include staking, liquidity mining and crypto lending. All of these focus on the generation of high returns from their existing holdings in crypto assets.

Besides getting funding for CDV, an announcement by the company also said that portfolio companies will now have a chance to access many Cake products and connections. Interested companies can also use Cake’s expertise and available resources in the blockchain industry, across the globe. According to Cake DeFi’s CTO and co-founder, investing in initial stage startups in the crypto sphere will help Cake enhance many of its web3 products. Not only that, advising new startups to share details on projects with CDV will result in open doors to new VC firms as well as investors.

According to a Cointelegraph report, the marked increase in crypto and related investments is because of active efforts by governments to stimulate capital markets. Singapore’s government has set up a new acquisition company with a special purpose and a listing framework. This framework is set up to help companies that grow fast, and unicorns go public with a minimum of fuss. The Singapore government has also put measures in place that will proactively regulate speculative assets in the digital realm.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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