Cake Launches $100m Venture Capital Arm

Cake DeFi, a financial platform based in Singapore, has announced the formation of a venture capital (VC) arm with an initial investment of $100 million. The unit stated that it is interested in investing in Web3, gaming, and fintech firms, particularly those in the metaverse, NFT, blockchain, and e-sports.

The Edge Of Company, a tech, media, and events firm has been chosen as the first strategic investment by Cake DeFi Ventures, the company’s venture capital arm (CDV).

“By launching Cake DeFi Ventures, we want to bring cryptocurrency and blockchain capabilities to the world,” chief executive Julian Hosp said.

“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,” he added.

Cake DeFi co-founders Hosp and U-Zyn Chua, as well as newly hired investment partner Nicholas Khoo, lead CDV.