Home News Sino Global Capital launches $200M fund backed by FTX

Sino Global Capital launches $200M fund backed by FTX


Chinese venture capital firm Sino Global Capital has announced the launch of a $200 million fund. The funds will be used to support startups in the Solana and Ethereum networks, including those related to decentralized finance (DeFi) and non-fungible token (NFT) infrastructure, writes The Block.

Partners such as FTX contributed a “substantial” part of the funds to the closed Liquid Value Fund I. The venture firm participated in the penultimate round of financing of the crypto derivatives exchange in July.

According to the publication, at the time of the writing, Sino Global Capital has also invested in Solana, Serum, Mask Network and Wintermute. Participation in such projects as LayerZero, Clearpool, Orca will re-register to a new fund.

Support for entrepreneurs with similar values

It is the first time venture capital is accepting outside capital from a broad range of accredited investors. Sino Global Capital plans to adhere to a bottom-up investment approach and give preference to startups from India.

“We will support entrepreneurs with similar values in the form of creating high trust and building a long-term ecosystem. We will continue to aggressively search and interact with the best teams in India,” explained Matthew Graham, CEO of the firm.

Earlier in October, he tweeted that they were looking for interns to hire in India.

Tracking and blocking trading Indian accounts

Recall that previously in March Indian authorities have demanded that cryptocurrency-related companies disclose their assets. The Ministry of Corporate Affairs made relevant amendments to the legislation.

According to the document, Indian public and private firms must report cryptocurrency transactions, volume; as well as advances or deposits “from any person”. The amendments came into force in early April 2021.

Recently, following government agencies raising red flags about cryptocurrencies being used for money laundering; Indian cryptocurrency exchanges have begun tracking and blocking trading accounts that engage in suspicious operations.

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