Multi-strategy blockchain investment fund Old Fashioned Research (OFR) has completed its first close. Brought by a number of former executives from Binance, OFR committed to 50 plus blockchain projects in the newbie.
Based on a comment, Old Fashioned Scientific studies are now appearing out of stealth mode, that continues to be operating since its foundation at the end of 2021. Ever since then, OFR put profit greater than 50 companies in various markets, for example WOO Network, Genopets, Metaverse Magna, MetaDerby and ZetaChain.
The fund began by Ling Zhang, the previous VP of acquisitions and mergers, and investments at Binance and Wayne Fu, former Binace mind of corporate development. Jiang Xin “JX” who brought Binance Labs’ and Launchpad’s major investment deals, is heading OFR’s venture arm. Zhang stated:
We’re keen to find founders who share exactly the same lengthy-term vision and fervour for that crypto industry, and we’re going to grow together together.”
Related: Cointelegraph Research launches investment capital database
OFR elevated funds from numerous major limited partners from the inside and outdoors the crypto industry. Charge investor is gaming platform Wemix, supported by the listed leading gaming company Wemade. Other notable backers range from the family office of Gang Wang, JUE Capital, who had been the founding investor at DiDi and crypto wallet SafePal.
On May 25, investment capital giant a16z announced closing its 4th cryptocurrency fund at $4.5 billion. This news came under annually since Andreessen Horowitz announced the launch of its $2.2 billion Crypto Fund III.