Beijing Lingzhu Technology Launches Venture Capital Fund for Blockchain

Asia Blockchain Review
October 26, 2019
Beijing Lingzhu Technology Launches Venture Capital Fund for Blockchain

Beijing Lingzhu Technology, a blockchain firm based in China, disclosed that it has partnered with investment companies to establish a fund of 100 million yuan — or over US$14 million — that will be used to promote blockchain adoption. 

The company added that the fund will be focused on areas such as advertisement distribution and agriculture.

Fund to Promote Blockchain Adoption

Liu Dahong, founder of Lingzhu Technology, published a statement on the firm’s WeChat official account revealing that the fund will help support new tech companies to promote their products and services.

“The venture capital mini-fund will finance technology companies that are integrating technologies into practical industry applications, like products and services closely related to the basic necessities of life,” said Dahong.

“The industries of agriculture, distributed advertising and university students’ innovative undertaking will be our main focus.” 

Lingzhu Completes Funding Round 

The company has completed its latest funding round. Though the financial specifics were not disclosed, the round was led by Chinese investment banker Lu Hanquan, owner of semiconductor firm Hangzhou SDIC Microelectronics. 

Established in September 2016, Lingzhu Technology is a distributed company that has been driving blockchain adoption in areas such as e-commerce, business credit management, and product traceability. 

In September 2017, the company raised funds in a pre-Series A round, while it received investments from Chinese investment company ZE Capital Investment Management in another angel round.

Source: https://www.dealstreetasia.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Inblocks Conference by Tokocrypto is BACK, together with Indonesia Blockchain Week
Tokocrypto, the leading crypto exchange in Indonesia, presents Inblocks 2019, the biggest blockchain...

November 12, 2019

Blockchain Regulation and Landscape In Indonesia
After prohibiting crypto assets in early 2018, the Indonesian government finally started realizing t...

November 6, 2019

SE Digital to Democratize the Thai Financial Market as an Official Portal
SE Digital is keen to democratize the Thai financial market as an official ICO Portal, with new acce...

November 5, 2019

Hummingbot and Zcoin Announce Liquidity Mining Partnership
Hummingbot is excited to announce that Zcoin, one of the first and most trusted privacy-focused cryp...

November 1, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us