ABCDE Capital
‘Old money has all but fled,’ Huobi co-founder discusses challenges of running $400M VC fund
In a new Twitter post dated Dec. 12, Du Jun, co-founder of cryptocurrency exchange Huobi Global, shared new insight on his experience of running ABCDE Capital, a $400 million Web 3.0 venture capital (VC) fund, in June this year. According to Jun, the idea for ABCDE Capital came in March, and by April, it was already registered in Singapore. However, amidst the $40 billion Terra Luna implosion in May, Jun said that “old money has all but fled” after the incident. We chose to start @ABCDECapital at the most difficult time of the market. Hope to bring a glimmer of light to builders and bring more fairness, innovation and strength to crypto industry. https://t.co/GmxFFsG7qL — Du Jun (@DujunX) June 17, 2022 Undeterred, Jun continued that in August, the VC fund was fully operational,...
