On Thursday, a group of former executives from Binance, one of the world’s largest cryptocurrency exchanges launches a $100 million venture fund to support Old Fashion Research (OFR).
Old Fashion Research (OFR) was established in late 2021 by managing partners Ling Zhang, who was recently vice president of M&A and investments at Binance, and Wayne Fu, who was previously the head of corporate development at the Binance brings his significant experience in exchange and ecosystem collaborations to OFR.
Also, OFR’s venture arm will be supported by partner Jiang Xin, who led Binance Labs’ and Launchpad’s large investment deals such as Axie Infinity, Moonbeam, Alpha Finance, and others. Wei Zhou, the former CFO of Binance and new CEO of Coins.ph, will function as a strategic adviser and investor for OFR.
OFR has invested in more than 50 blockchain projects, leading to a well-balanced portfolio that covers blockchain ecosystems and regional markets. So far, including trading platform WOO Network, move-to-earn NFT game Genopets, Africa’s largest gaming community, Metaverse Magna, MetaDerby, the first free-to-play-and-earn game on Avalanche, and ZetaChain, the first blockchain and smart contract platform.
Wemix, the worldwide gaming platform supported by the publicly traded top gaming business Wemade, is the leading investor. Other significant supporters include Gang Wang’s family office (JUE Capital), which was an early investor in DiDi, and SafePal, the top crypto wallet. They picked OFR to enter the crypto ecosystem because of its remarkable track record and the experience of its top management.
Zhang said that,
The OFR team has established solid knowledge and a wide range of experience across M&A, investment, and incubation from our previous successful portfolio building at Binance. Deep down, we are a group of passionate builders, and we are keen to seek founders who share the same long-term vision and passion for the crypto industry, and we are determined to grow with them together.
About Old Fashion Research
The future of technology, according to OFR, will see a paradigm change from Web2.0 to Web3.0, which will be powered by blockchain to achieve completely decentralized data and asset self-sovereignty. The fund uses a multi-strategy approach to capture the underlying value of Web3.0 and promote the next generation of crypto native entrepreneurs at all phases of the business lifecycle.
Social Media Links
Website: https://ofr.asia | Official Twitter: https://twitter.com/ofrfund
