The digital currency market in 2020 has brought so much excitement. This year, DeFi brought a number of innovative products that surprised the market, and the market value of Bitcoin continued to break through and hit new highs. In the market, ecology and hot spots such as Polkadot, Filcoin, ETH 2.0, and NFT performed well. The impact this year on the upstream and downstream of the blockchain industry was beyond imagination. The shuttle market cycle is the biggest test for investment institutions. In 2020, after experiencing the bleak market in the bear market, many investment institutions have begun to appear in the cryptocurrency industry with a more advanced look and posture thanks to their outstanding investment performance in the DeFi field.
On January 14, 2021, at the 7th theme sharing session of the “Instant Link” brand event hosted by Blocklike, 18 investment institutions all had a deep impression of the 2020 market. As an important force that has been paying attention to this market for a long time, investment institutions have become the driving force of the industry’s ecological innovation and reasonable coordination of resources. Under the collective pulse of the crypto VCs, almost all the speakers are optimistic about the general direction of DeFi. Almost two-thirds of the guests have long been deployed in hot areas such as Polkadot, Filecoin, and NFT. At the same time, many guests also proposed With cross-chain concepts, Web3.0, mining, compliance, layer2 and other subdivisions, the main line of digital asset investment in 2021 has become clearer.
Distributed capital
Keywords: infrastructure, head ecological project, DeFi
Fenbushi Capital Lu Le: From a personal point of view, Lu Le’s main focus is on the establishment of infrastructure and the cooperation of the entire ecosystem, including the underlying asset management project debank in the DeFi field, Filecoin and its ecological projects in the storage track. web3 establishes the project chainsafe that provides the underlying technical support, and the underlying payment clearing custody field. Lu Le believes that Fenbushi Capital has spent a lot of energy in supporting top ecological projects in the past. In terms of investment, continuous support for the development of infrastructure can help the ecological establishment and ultimately capture the value of the ecological growth. In the new market stage, Lu Le believes that DeFi has very broad prospects. At the same time, many existing requirements have emerged but have not been met. The DeFi direction that Fenbushi Capital is paying attention to mainly lies in the data field, privacy protection, derivatives market, and some progress of layer2.
NGC Ventures
Keywords: trading platform, infrastructure, NFT, DeFi empowerment
Andrea, Investment Director of NGC Ventures: In the past year, NGC’s investment has remained very active. In its current Fund III, the entire investment theme is centered on “landing”, and the main directions are divided into: 1) Trading platform, including Dex auction platform, prediction market 2) Corresponding infrastructure, such as storage, database 3) NFT, including Games, ecological platforms 4) DeFi empowerment, such as platforms that provide liquidity, DeFi-friendly oracles, and cross-chain protocols
NGC Ventures will continue to focus on landing in the future. In Andrea’s personal eyes, he is also full of interest in the theme of “physical assets + DeFi”. Many top DeFi projects are worthy of attention. As early as 2018, the concept of Security token has been paved, and the physical assets in 2021 may be an important bridge between Crypto, DeFi and the outside world.
Ben Rui Capital
Keywords: macro, mainstream currency
Chu Kang, founder of Benrui Capital: From a macro perspective, Chu Kang shared the impact of the current international situation on Bitcoin. He believes that the deeper reason for the short-term plunge of Bitcoin some time ago was the uncertainty of the current international situation. According to the news displayed on the Internet, there has been a sharp correction in global commodity assets, which is also some of the United States. Risk hedging measures adopted by mainstream investment institutions. After the U.S. election results were clear, Bitcoin rose, and major fund companies and Internet companies issued announcements to buy Bitcoin. This is an important signal.
Waterdrop Capital
Keywords: Bitcoin mining, DeFi, NFT, Polkadot ecology
Tracy, managing partner of Waterdrop Capital : Waterdrop Capital was established in 2017 by the earliest senior investors and practitioners in China’s blockchain industry. Waterdrop Capital has two main businesses: early project investment in the primary market and Bitcoin mining business. The main focus of Waterdrop Capital in the early stage is: DPOS ecology, COSMOS/IRISnet ecology. From 2019, we will focus on the Polkadot ecology and DeFi ecology. According to the information disclosed by Waterdrop Capital, 22 Polkadot ecology and DeFi ecology projects have been invested in 2020.
According to Tracy’s investment experience, early project investment is an investment behavior with high risk and large uncertainty. In the early stage of the project, there are not many data that can be referred to. Waterdrop Capital first attaches great importance to the judgment of people in investment. The team is the most important factor. In addition, the track, innovation and timing of the project selection are also very important. According to observations, Waterdrop Capital has seen that more and more traditional financial industry gameplay and derivatives have been moved to the blockchain, and the decentralized finance (Defi) field is also becoming more and more prosperous, so it will continue to be optimistic about the DeFi field. At the same time, in September 2020, Waterdrop Capital began to set foot in the field of NFT’s encrypted artwork. In 2021, Waterdrop Capital will continue to be optimistic about the DeFi and NFT fields.
HashKey Capital
Keywords: Defi, Polkadot, Filecoin, Institutional Financial Services, NFT
HashKey Capital Xiao Xiao: HashKey Capital is a subsidiary of Hong Kong HashKey Group, and it is also the investment export of Wanxiang Blockchain. HashKey Capital is mainly engaged in primary market investment in the blockchain industry, with diversified investment directions, and the main idea is to lay out a large ecosystem. Currently, HashKey Capital has two funds, with a total management scale of approximately US$300 million. Its investment is mainly research-driven. In 2020, HashKey Capital invested a total of more than 20 projects, including long-term equity investment and short-term Token. The main investment directions of HashKey Capital: DeFi, Polkadot, Filecoin, and institutional financial services. Xiao Xiao believes that in the traditional world, a complete financial system needs to include: currency, lending, insurance, transactions, funds, and payments, among which transactions can also be divided into spot and derivatives. In 2020, these corresponding projects have basically appeared in the DeFi world, and the wealth effect is very efficient.
In 2020, OSL obtained the relevant license issued by the Hong Kong Securities Regulatory Commission, DBS Bank announced the launch of a digital asset trading platform, and the gray-scale AUM has exceeded 16 Billion. These are major events in the field of compliance and financial institutions. All signs indicate that encrypted assets are in progress. Accepted by the traditional financial world. For institutions, infrastructure is a must for admission. In this area, HashKey Capital may also accelerate the pace of investment. In 2021, HashKey Capital will continue to deploy the aforementioned four hot spots. It will also pay more attention to the NFT field. In addition, Dfinity’s Token will also enter circulation in 2021, and Cosmos will also improve the smart contract function, and will continue to pay attention to whether there will be a big public chain ecology that can compete with Ethereum and Polkadot.
Taihe Capital
Keywords: Web3.0, cross-chain, Polkadot
Wang Xiaochen, founder of Taihe Capital: Taihe Capital is a research-driven crypto fund that includes investment funds, mining funds, and secondary hedge funds.
Through Chainalysis data analysis, it can be seen that the number of wallet addresses of coin hoarders is far greater than the number of bitcoin sellers. With this BTC bull market, a large amount of fresh capital has been brought in. Taihe Capital believes that these new funds have also provided fertile ground for the application ecology of Ethereum, which has transitioned from initial hype to solid applications, such as decentralized transaction Uniswap, decentralized lending Aave, and decentralized synthesis Synthetix asset trading. Regarding the coming 2021, Taihe Capital is optimistic that the DeFi ecosystem will usher in a new outbreak, and loans, transactions, and contracts will be further enriched. Now DeFi is still in its infancy, and there will be a lot of opportunity.
The main focus of Taihe Capital next is: DeFi, a new stage of public chain. The direction of DeFi mainly lies in the DeFi financial derivatives track and the bottom layer of the DeFi ecosystem; the new public chain mainly includes two aspects: Layer 2 and cross-chain. According to Wang Xiaochen’s observation, Bitcoin can continue to be an effective hedging tool against macroeconomic trends, and more financial innovations and application creations can be grafted on Ethereum. It is believed that more and more institutional investors will invest funds in this asset. Be concerned and adopted by the mainstream financial world.
Bisheng Capital
Keywords: mining, blockchain infrastructure
Shao Jianliang, Founder of Bisheng Capital: Bisheng Capital was established in 2017 and formed Bisheng Group together with Bisheng Mining and Bisheng Trusteeship. The main creators also include Kong Jianping and Sun Qifeng, the elderly in the industry. Bisheng Capital’s fund sector mainly focuses on the development process of the entire blockchain and digital currency. In 2018, Bisheng Capital established the first phase of a 20 million U.S. dollar cryptocurrency digital fund. On the whole, it relies on the mining industry and the experience accumulated in the blockchain infrastructure to participate in this industry. Relying on resources, contacts and experience in the mining field, Bisheng Mining provides some consulting services on mining investment and financing. Bisheng Capital covers investments in the primary and secondary markets, as well as DeFi-related financial management and asset management. Through several years of layout, the investment ecological network built by Bisheng Capital mainly includes media, mining, community, and technical infrastructure services.
Roark Fund
Keywords: DeFi, Bitcoin computing power, compliance trust funds, overseas channels
Irene Wang, partner of Roark Fund: In the two basic business directions of Roark Fund, investment and incubation have always been linked. For the investment direction of 2021, Roark Fund is optimistic about several general directions: DeFi, Bitcoin computing power, compliance trust funds, overseas. Irene Wang believes that the truly innovative and explosive projects are the original innovative projects, not the traditional business extension blockchain+. Roark Fund is currently paying attention to native projects such as Dex and layer2. In addition, Roark Fund has strengthened its cooperation with traditional funds, focusing on Bitcoin computing power-related and compliance trust funds such as Grayscale. At the same time, Roark Fund deeply participated in DeFi at a very early stage, incubated various latest concepts and new project types, and built an early recognition of DeFi and overseas communities, so it will continue to attach importance to overseas channels.
German Neighbor Capital
Keywords: Defi, Polkadot, NFT Delin Capital Partners (Charlotte): Delin Capital was established in 2017, mainly focusing on technology-driven and innovative blockchain project investment through resource integration and head resources The way of participating in incubation will complement the shortcomings of technological innovation and the transformation of development results, and improve the angel investment ecology in the field of new technologies. The institution has established a primary market fund and a secondary market fund, as well as the German Capital Research Institute. The primary market fund is mainly used for early investment and incubation of projects. The participating projects include Polkadot, Finannel, Bandot, Litentry, Kulupu (KLP), OpenSquare, BOOL, Black Diamond Rating, Harmony, Golff, RIO, OVR, Filcoin, Filcash, Farmland, etc.
The tracks that DeLin Capital has recently paid more attention to are DeFi, Polkadot and NFT. As one of the first batch of Huobi Polkadot ecological sponsors, Delink Capital has been active in the DeFi track and Polkadot ecology for a long time. In addition, DeLin Capital itself also carried out the layout and incubation of related projects on the NFT track in advance. Charlotte believes that German Neighbor Capital has always adhered to a long-term investment strategy, which is one of the main reasons for being able to occupy a place in the investment market.
Amplio Capital
Keywords: DeFi bottom layer, DeFi upper layer, Polkadot ecology
Amplio capital VP Iris: The predecessor of Amplio Capital is BitMart Labs. Since the end of 2019, it has been involved in primary market investment in the encryption field. At present, Amplio Capital has invested in more than 40 projects. Due to the diversified nature of the encryption field, the forms of investment are also very diversified. The fields involved include DeFi, Polkadot, NFT assets, layer2, distributed storage and other popular competitions. Tao. In terms of investment, Amplio Capital pays more attention to the long-term development capability of the project. In 2021, Amplio Capital’s optimistic focus will be around DeFi. Looking at the bottom of DeFi, it will be the new public chain, Layer 2 technology, Bitcoin and Lightning Network. Looking at the upper layer of DeFi, there will also be DAO, liquidity mining, Data tools, etc. In addition, the Polkadot ecology is also the focus of Amplio Capital, and institutions will pay close attention to the Q1 slot auction.
DFG Capital (Digital Finance Group)
Keywords: Polkadot, decentralized storage, Layer1 project, gray trust products, ETH ecology, DeFi
Joanna Liang, Head of Investment at DFG: DFG is a blockchain group that focuses on investment and cooperates with the entire industrial chain. Its overall investment scale is about US$550 million, and its core business is investment, with a layout in both the first and second levels. In 2016, DFG established the first US$80 million equity fund in San Francisco, USA, and invested in blockchain equity companies. Recently, DFG has focused on the layout of nearly 20 Polkadot and surrounding ecosystems, covering DeFi projects, two-tier expansion plans, cross-chain identity aggregation, game cross-chain infrastructure, data services, etc. On other tracks, DFG has deployed decentralized storage, Layer1 projects, gray trust products, ETH ecology, DeFi, etc. Among them, DeFi’s subdivision track includes anonymous Dex and insurance, privacy encryption, DAO, decentralized storage, oracles, etc.
Quest Capital
Keywords: Blockchain industry in China and South Korea, mining Quest Group (Quest Group) Founder & CEO Qu Ming: Quest Group (Quest Group) is composed of Quest Capital, Quest Mining, and Quest Lab. The main business segments are as follows: 1) Quest Capital is active in the blockchain industry in China and South Korea, integrating venture capital, consulting and research, and asset management. 2) Quest Mining is an asset management institution that focuses on mining and quantification. At its peak, it has a total computing power of more than 350P. 3) Quest Lab is an organization that focuses on technology development and marketing.
Anze Capital
Keywords: Polkadot
Zheng Haosheng, Partner of Anze Capital: Anze Capital is an investment incubator that focuses on the field of digital finance. Anze Capital mainly targets the incremental market, and some traditional institutions are focusing on industries with new dividend periods. Anze Capital describes itself as a “community-driven” capital. Anze Capital currently pays more attention to the expansion of private domain traffic. This year, the main investment direction is the Polkadot ecological project.
Consensus Lab
Keywords: Polkadot ecology, ETH ecological derivatives, DeFi field, wallet
Consensus Lab VP Vicky: According to Vicky’s introduction, Consensus Lab has invested in about 127 projects. In the future, Consensus Lab will continue to focus on the Polkadot ecology, the derivative product market of the ETH ecology, the DeFi field, and the flow entry wallet to screen the targets. The main ones are: 1. The earlier findings focus on the ecological solution Core issues and practical pain points. 2. Products that allow mass users to participate and use more easily will have a greater value capture and life cycle; 3. Leading track such as lending, trading platforms (not limited to Dex), stable coins, and privacy. 4. Late-stage projects with good liquidity, leading projects, and projects that can be deeply involved
Crypto capital
Keywords: storage sector, decentralization concept, Polkadot
Xie Weifeng, founder of Encryption Capital: Encryption Capital was established in 2013 and is also the first batch of participating institutions such as ETH, EOS, and OMG. In 2018, Encryption Capital’s overall ecological strategy was deployed to expand and optimize project incubation and operation services. In the second half of 2019, after conducting research and preparation, Crypto Capital invested in a large number of mining currency sectors in the first half of 2020. Starting in May 2020, crypto capital began to deploy in the DeFi field. For 2021, the main optimistic direction of crypto capital lies in the storage sector, the concept of decentralization, and the Polkadot series.
Candaq
Keywords: Polkadot, NFT, DeFi, and distributed storage
Charlie, Candaq Group Partner: Candaq focuses on interdisciplinary research and project incubation related to financial technology and blockchain technology, including but not limited to blockchain, big data, artificial intelligence, Internet of Things and new energy.
Mainly speaking, Candaq revolves around the investment philosophy of “Technology First” and “Paper Driven”. In 2019, Candaq focused on the construction of the Polkadot ecology, including community construction, developer relations, and the incubation of some innovative technology projects. At present, Candaq mainly incubates technical projects and Polkadot ecological projects. In 2021, Candaq’s layout will expand from the Polkadot ecology to deeply optimistic NFT, DeFi and distributed storage.
AXIA8 Ventures
Keywords: DeFi
Wayne Lin, founder of AXIA8 Ventures: AXIA8 Ventures focuses on startups investment and post-investment support in the field of encrypted assets. Currently, AXIA8 Ventures has deeply participated in various modules in the DeFi field. At present, AXIA8 Ventures mainly focuses on the following directions: 1. Open financial protocols/products that have been verified for long-term demand and products. 2. Projects with undervalued hot track and well-developed team 3. CMC head held for three months to Half a year
Cabin VC
Keywords: DeFi, ST, compliance
Huang Haiguang, founder of Cabin VC: Cabin VC was formally established in 2018 as the operating carrier of capital business. For a long time, one of Cabin VC’s focus has been on the digitization of traditional financial services and the regulatory path formed by the blockchain industry. At the beginning of the establishment of Cabin VC, its capital business mainly in the field of digital securities (ST) occupied the industry’s competitiveness. It invested in a number of leading international ST institutions such as Ploymath, Harbor, and OpenFinance. According to Cabin VC’s observations, since the second half of 2020, the DeFi ecosystem has begun to rise, and it has also directly affected the major structural changes in the investment market. Starting from the Q2 quarter of 2020, Cabin VC’s investment direction has turned to DeFi and invested in more than 10 targets surrounding the DeFi ecosystem.
Huang Haiguang believes that for the current entrants in the DeFi field, it is necessary to pay more attention to the problems that need to be solved urgently in the next development of DeFi. The emerging DeFi protocol (tool) can only continue to release the credit expansion potential of the current DeFi ecosystem if it finds more new basic assets that can expand credit investment. Among the multi-field investments made by Cabin VC, it has not left the ST track. In 2020, Cabin VC also saw the budding phenomenon of ST ecology’s attempt to integrate DeFi. The scarcity of basic assets is the key bottleneck for the expansion of DeFi’s liquidity. In this process, around the existing ST ecosystem, such as introducing corporate supply chains or consumer finance into the DeFi ecosystem, or introducing synthetic assets of stocks and bonds, or trying There will be more investment opportunities in the exploration of borrowing and lending based on off-chain asset mortgages.
Encrypted VC: Upgrade and transformation
What is a good project? The experience of Lu Le of Fenbushi Capital after investing in the head project is: technology, community, and long-term impact. She believes that a good technical project must have a technical foundation in order to complete its technical vision and mission. It needs a community that cares about it and is committed to its technical vision and mission. It needs to have a long-term influence that lasts for several years. Rather than just hype in the short term. On the other hand, Waterdrop Capital also mentioned in the sharing that the first priority in investment is to judge people, and the team is one of the most important factors. Waterdrop Capital considers the project team factors including the background and past experience of the team founder, the technical strength of the team, the cohesion and execution of the team, and the project experience of the team in the blockchain field.
In this event, Blocklike also noticed the upgrading and transformation of investment institutions from the structure and pattern. From the beginning of the Token Fund tide in 2017, to the development of investment institutions in many industries, many investment institutions have formed a unique transformation of investment preference, from infrastructure-oriented to deep-digging vertical fields, and in Polkadot, DeFi A distinct investment style has been formed on the hot track of subdivision concepts. At the same time, there are more and more research-driven investments. This kind of investment and research represents the trend of professionalization of VC institutions. Investment institutions have played an irreplaceable role in promoting ecological innovation and rational allocation of resources.
