Cake DeFi, a Singapore-based fintech platform, announced Wednesday it has launched Cake DeFi Ventures (CDV), its venture capital arm with $100 million in earmarked capital.

CDV is looking to invest in technology startups in Web3, gaming and fintech – especially those in the metaverse, non-fungible token (NFT), blockchain and esports industries, that will bring synergistic value to Cake DeFi’s core business, Cake DeFi said in a statement.

It also said CDV will look for global investment opportunities in startups around the world.

Portfolio companies of CDV will receive strong support from Cake DeFi’s global and experienced leadership team, and the opportunity to access Cake DeFi’s connections, resources and expertise within the global blockchain industry.

“By launching Cake DeFi Ventures, we want to bring cryptocurrency and blockchain capabilities to the world. Cake DeFi is one of Southeast Asia’s fastest-growing fintech platforms. The projects that we invest in can expect to receive strong support scaling globally,” said Dr. Julian Hosp, Co-Founder and Chief Executive Officer of Cake DeFi.

At the time of CDV’s launch, the firm was in early to late-stage discussions with a number of global startups, including those in Southeast Asia, the U.S. and Europe. For its first strategic investment, Cake DeFi has selected US-based tech, media and events startup, The Edge Of Company, which has been building the community and ecosystem for the NFT and Web3 space.

“The entire team at The Edge Of Company is honored to have Cake DeFi Ventures as part of the Edge family. Their know-how, relationships, and strategic insights will help propel this Web3 rocketship to new heights across our platform of tech, media, and events,” said Jeff Kelley, Co-Founder, The Edge Of Company, Inc.

Cake DeFi Co-Founder and Chief Technology Officer U-Zyn said :“As an extension of our multiple blockchains support and having built up an research and development (R&D) arm with cryptography deep tech capability, investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance and broaden our Web3 offerings.”

CDV is led by Cake DeFi’s Co-Founders Dr Julian Hosp (Chief Executive Officer) and U-Zyn Chua (Chief Technology Officer) along with newly appointed Investment Partner Nicholas Khoo.

Dr Julian Hosp is a seasoned blockchain entrepreneur, widely regarded as a leading influencer in the crypto and blockchain space. His vision is to bring blockchain awareness and understanding to a billion people by 2025.

U-Zyn Chua, a blockchain engineer, enthusiast and investor for over a decade, was a Smart Nation Fellow on blockchain for the Singapore government. He was also the Lead Architect for the world’s first Central Bank Digital Currency (CDBC) – the Sand Dollar in the Bahamas.

Nicholas Khoo brings over 20 years in the tech sector with diversified experience in startups and multinationals such as Visa. For more than ten years, Nicholas has invested in a number of successful and fast-growing tech startups and has also served on the investment committees of investors such as the Global Fund.

Cake DeFi is a fully transparent, highly innovative and regulated FinTech platform dedicated to providing access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is fully compliant with all regulatory requirements of the Monetary Authority of Singapore (MAS).

By enabling and empowering its users to harness the potential of decentralised finance (DeFi), Cake DeFi aims to educate and inform people around the world on crypto and DeFi in a simple, easy to understand and hassle-free manner.

In 2021, Cake DeFi saw a tenfold growth in its registered customer base, with over $1 billion customer assets. In the same year, Cake DeFi’s customers received over $230 million in rewards.

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