Old Fashion Research, a VC firm founded by Binance workers, announced the launch a new crypto fund. This is in spite of the current market downturn. The fund will be able to invest $100 million and will also help in carrying crypto projects into emerging markets such as Latam.
Old Fashion Research launches $100 million fund
Many companies continue to invest in cryptocurrency projects and remain optimistic about the industry’s future despite the current slump in traditional and crypto economies. One of these companies is Old Fashion Research (OFR), which was founded in 2021 by ex-Binance employees.
The company has launched a new crypto-based fund. This will focus on the metaverse and bring cryptocurrency adoption to emerging markets like Latam.
Techcrunch spoke with Ling Zhang, one the managing partners at OFR.
We want to work with builders over the long-term. We are very Southern Hemisphere-focused. … While we will pursue all emerging markets, it is our goal and vision that adoption accelerate there.
Operation during Current Market Conditions
This fund is the largest that the company has launched. It has been kept low profile. Old Fashion Research lists several companies in its portfolio investments page. These include blockchain analytics platform Nansen and cryptocurrency exchanges Woo, MEXC Global and blockchain Layer 2 groups such as Boba network.
The fund’s resources were sourced from limited partners, traditional VC Funds, family offices, angel investors, and traditional VC Funds. Zhang stated that the crypto industry is seeing a boom because more companies are interested. She said:
More and more VCs are seeking ways to invest in cryptocurrency projects. Crypto is revolutionizing the capital plate and disrupting it. It is no longer centralized in a top down approach.
Old Fashion Research has also a view on the current challenges facing the crypto industry. Jiang Xin (another partner at the firm) believes that the current environment is favorable for VCs looking to enter the space because projects are more affordable and have lower valuations. According to the company, now is the best time for investments and incubating more projects.