• Sino Global Capital, a cryptocurrency venture capital firm, has launched a $200 million fund with backing from FTX

  • Sino Global Capital, a China-based crypto venture capital firm led by Matthew Graham, has raised $200 million in funding from FTX.

    Sino Global told ULTCOIN365 exclusively on Monday that the fund, Liquid Value Fund I, is closed-ended. That means it has a strict limit of $200 million. According to Graham, a “substantial” portion of that amount has already been hard committed by partners such as FTX.

    “We are thrilled to be able to support the launch of Sino Global Capital’s institutional fund,” said FTX CEO Sam Bankman-Fried. “Matthew and the Sino Global Capital team supported the FTX vision from the start and then collaborated with us to make it a reality. The Fund will now offer more opportunities to projects that are pushing crypto and blockchain technologies forward.”

    This is Sino Global’s first time accepting outside capital for a fund. Until now, the firm has invested in crypto startups with its own money. To date, Sino has invested in over 20 cryptocurrency projects, including Solana, FTX, Serum, and Wintermute.

    According to Graham, some of these investments will be transferred to the new fund. LayerZero, Clearpool, Orca, and some yet-to-be-publicly-announced investments are among them.

    Solana has been one of Sino’s most profitable investments to date. When asked how the firm will replicate that performance for the new fund, Graham said it will use the same “bottom-up” investment approach. “We will take the same approach of betting on, then working with, and supporting entrepreneurs who share our values of high trust and long-term thinking in the ecosystem,” he said.

    The Liquid Value Fund I plan to invest in a variety of crypto projects, including DeFi and NFT infrastructure, with a particular emphasis on the Solana and Ethereum ecosystems.

    While the fund will invest globally, Asia, including India, will be its primary market focus. “We see India as an extremely important, yet unique, market for crypto,” Graham said, praising the country’s engineering talent.

    “We have been active in finding and engaging with the best entrepreneurs in India’s crypto space and will continue to do so aggressively,” he said.

    This is despite India’s lack of crypto regulatory certainty. Graham stated that he is still optimistic and believes that the country’s government will regulate cryptocurrency as a commodity.

    Sino Global currently employs 13 people, and the company is looking to hire more people to manage the new fund, according to Graham.

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