China-based investment company Huiyin Group announced the launch of a subsidiary fund Huiyin Blockchain Ventures (HBV) that partners with innovative start-ups to help grow future of the blockchain economy.
HBV is launching with $20m in committed capital and seeks to invest the funds within a year. The venture will be focused on improving the blockchain ecosystem with the investments in infrastructural projects and new use cases, CoinDesk reported.
The fund will have a key focus on those projects which are into building and supporting the bitcoin blockchain ecosystem.
“We are seeking to invest into bitcoin-related companies to help enrich the industry, as we see a large opportunity for a return on our investment,” James Wo, CEO of Huiyin Blockchain Venture, said in a statement as reported by CoinDesk. “HBV intends to be at the forefront of this technology as it continues to gain traction globally."
The venture has already begun it's investing through their fund in Unocoin, the Indian bitcoin wallet; content monetization platform Yours and Purse.io, which is a bitcoin-powered e-commerce marketplace.
“We provide strategic investment in a number of areas, including infrastructure, exchange, payment, remittance or use cases,” Wo stated in his tweet.
HBV parent company Huiyin Group was founded in 2002 by a Belgian solar engineer Juha Ven to manufacture solar energy equipment for European clients. This Beijing-based firm manages various investments in commerce, energy, medicine, agriculture, tourism, electronics, chemicals, commerce, among others.
