(Rejected) Infinity Ventures Crypto's first fund raised $70 million to accelerate the growth of global GameFi, DeFi and Web3.0

Infinity Ventures Crypto (IVC), headquartered in Taipei, China, announced the completion of its first fund of US$70 million, which will focus on global GameFi, DeFi and Web 3 innovation investments.

The internationally renowned venture capital Infinity Ventures was established in 2009 and currently has offices in Taiwan, Japan, China and other places. It is an investment institution focusing on early-stage Internet technology innovations in Asia.

Its Infinity Ventures crypto has been investing in outstanding startups in the cryptocurrency industry since its inception in August 2021. Funds have been injected into 78 portfolio companies including Southeast Asia, Taiwan, Japan, the United States, etc.

Circle, Digital Currency Group and Animoca Brands also participated in the fund. IVC's first investment goes to the Philippines-based game money-making game association and NFT-investing DAO Yield Guild Games (YGG), providing its company with an additional source of support in the Southeast Asian region.

Brian Lu, Partner at IVC said that:

“As a bridge between the East and West, we take a boots-on-the-ground approach by assembling teams of local experts to stoke the growth of our portfolio companies,”

Lu also said the fund was oversubscribed, but for web3 crypto companies are mostly looking for small rounds, around $1 million or less.