As venture capital firms continue to invest heavily in blockchain and Web3 projects, HuobiGlobal, a digital asset exchange, launches Ivy Blocks, a new investment arm with over $1 billion of crypto assets, to identify and invest in promising blockchain projects.
“The firm’s asset management department will provide “liquidity investments” to help DeFi and Web3 projects get up and running,” according to Lily Zhang, Huobi Global’s chief financial officer.
cointelegraph
The firm’s focus on DeFi comes at a time when the sector’s overall value has declined by more than half from its peak. So despite the downtrend, venture capital continues to flood the crypto scene, with investors prioritizing Web3 and metaverse plays.