Road Town, British Virgin Islands, June 15th, 2023, Chainwire
LBank Labs, the leading venture fund, has disclosed details of its investment in SevenX Ventures, a research-driven venture capital firm in Web3. The two funds aim to provide comprehensive support for blockchain projects and entrepreneurs worldwide, fueling innovation and fostering global collaboration in Web3.
With $100 million assets under management (AUM), LBank Labs has a strong track record of nurturing startups and helping them thrive. The venture capitalist arm of LBank, the global cryptocurrency exchange, LBank Labs is committed to supporting projects through direct funding, acceleration, incubation, and extensive networking. In addition to direct investments, the fund aims to build a robust network by investing in top global funds, providing financial and resource value-add support to portfolios within the network.
Czhang Lin, IC board member of Labs, has personally contributed as a limited partner (LP) to NGC, Blockchain Founders Fund, and Lemniscap. Eric He, Co-Founder of LBank, has been an LP to SevenX Ventures fund I, II, III and FOF from the very beginning, as well as IOSG Ventures.
SevenX Ventures, headed by seasoned veterans with an average industry experience of six years, manages three main funds and a Fund of Funds (FOF), totaling approximately $300 million AUM.
“SevenX is dedicated to helping our portfolio and partners build a trustless network to make the value of organizations and individuals come true in crypto and Web3,” explained Jon, Founding Partner at SevenX Ventures.
SevenX Ventures has already weathered three bull and bear cycles, with a portfolio of nearly 100 projects spanning infrastructure, middleware, DeFi, gaming, and social applications. Notable portfolio companies include Near, Arweave, Zerion, YGG, Mask Network, AI Arena, Space and Time, CyberConnect, Debank, and DODO. Furthermore, SevenX Ventures plays a pivotal role in bridging infrastructures and decentralized applications (dapps) between Western and Eastern markets, making the fund an indispensable partner in Asia.
LBank Labs has brought extensive financial resources and a vast global network to SevenX Ventures over the years, while SevenX Ventures has reciprocated by contributing significant value and knowledge to LBank Labs. As part of their commitment, LBank Labs aims to build a comprehensive network of Fund of Funds, enhancing portfolio performance and diversification while emphasizing the inherent value of their ecosystem network. With Labs' presence in seven global regions, they are a powerhouse for fostering collaboration and innovation cross-borders.
In addition to its partnership with SevenX Ventures, LBank Labs has recently announced investments in Sparkle Ventures and Collab+Currency, two notable venture funds dedicated to supporting and nurturing projects in the Web3 ecosystem.
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrency.
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Jeremy Van der Haegen