Road Town, British Virgin Islands, June 29th, 2023, Chainwire LBank Labs, the venture fund of the global crypto exchange LBank, is pleased to announce its strategic investment in ArkStream Capital. This collaboration brings together the expertise and resources of two prominent players in the blockchain industry, aiming to drive the advancement of Web3 innovation. LBank Labs, known for its protocol and exchange-agnostic approach, is committed to supporting projects through direct funding, acceleration, incubation, and extensive networking. With $100 million assets under management (AUM), the venture capitalist arm of global cryptocurrency exchange LBank has a strong track record of nurturing startups and helping them thrive. Besides direct investments in projects, the team aims to build a strong fund network via investing in global top funds to support portfolios from the network in both financial and resource value-add. Czhang Lin, an IC board member of Labs, is also personally LPs to NGC, Blockchain Founders Fund and Lemniscap, where Eric He, Co-Founder of LBank is LP to SevenX Ventures fund I, II and FOF, and IOSG Ventures. ArkStream Capital, established by a collective of crypto-native founders with diverse backgrounds from institutions such as MIT, Stanford, BlackRock, Google, and Samsung, has quickly gained recognition for its outstanding achievements. Led by Founding Partner Allen Su, whose previous venture BlockArk was a trailblazing blockchain growth company established in 2017, ArkStream Capital possesses exceptional capabilities in research and growth strategies. Notably, ArkStream Capital has earned accolades as one of the best-performing funds during the 2020-2022 cycle. Leveraging their strategic and discerning investment approach, the firm has successfully supported over 70 portfolio companies, including prominent industry players like Flow, SEI, Republic, Manta, LiveArtX, and Mask. With an unwavering commitment to fostering on-chain user adoption, ArkStream Capital is now expanding its investment scope to embrace the next phase of Web3 evolution. In addition to infrastructure investments, ArkStream Fund II will prioritize applications and user portals. Notable investments from Fund II include Linera, a cutting-edge MOVE layer-1 project; Polkastarter Gaming, the largest web3 gaming information platform; and Particle Network, an all-encompassing infrastructure solution. ArkStream Capital's co-investors in these ventures include industry giants such as Sequoia, SuperScrypt, a16z, and Alibaba. "We are delighted with the investment made by LBank Labs, as it signifies a remarkable opportunity to jointly bring Web3 innovation to the vast and burgeoning user base in emerging markets,” said Allen Su, Founding Partner of ArkStream Capital."We are excited to join forces with ArkStream Capital in our shared mission to drive Web3 innovation and cater to the growing user base in emerging markets. This strategic investment represents a significant opportunity to combine our strengths and resources, accelerating the development of groundbreaking technologies that will reshape industries globally." - Jiayu, Head of FOF Investment at LBank Labs. LBank Labs and ArkStream Capital are poised to leverage their respective strengths and networks to drive forward the development of Web3 technologies, revolutionizing industries and empowering users worldwide. As part of their commitment, LBank Labs is dedicated to establishing an extended network of Fund of Funds, focusing on optimizing portfolio performance and diversification while highlighting the intrinsic value of their ecosystem network. With a strong presence in seven global regions, LBank Labs is a powerhouse for fostering collaboration and innovation cross-borders. Earlier this month, LBank Labs similarly announced strategic investment and partnerships with prominent venture funds Sparkle Ventures, Collab+Currency, and SevenX Ventures, highlighting Labs’ mission to unite key innovative players in the industry to advance Web3. About LBank 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. Start Trading Now: lbank.com Community & Social Media: l Telegram l Twitter l Facebook l LinkedIn l Instagram l YouTube [email protected]
