March 9, 2022 – Singapore, Singapore
Cake DeFi, a Singapore-based fintech platform that makes decentralized finance (DeFi) services and applications accessible to everyone, has launched its corporate venture arm with $100 million in earmarked capital.
Cake DeFi Ventures (CDV) will be focused on investing in tech startups across web 3.0, the metaverse, the NFT space, gaming, esports and fintech spaces that will bring synergistic value to Cake’s core business. Based in Singapore, CDV will look for global investment opportunities in startups across the world.
CDV is led by Cake DeFi’s co-founders Julian Hosp, CEO, and U-Zyn Chua, CTO. Hosp is a seasoned blockchain entrepreneur, widely regarded as a leading influencer in the crypto and blockchain space with over one million followers across all of his channels globally. His vision is to bring blockchain awareness and understanding to a billion people by 2025.
Chua, a blockchain engineer, enthusiast and investor for over a decade, is highly passionate in decentralized systems’ design and development. Together they formed Cake DeFi with the vision of building the world’s leading investment platform into DeFi and up-and-coming alternative assets from Singapore.
Portfolio companies of CDV can expect to receive strong support from Cake DeFi and have the opportunity to access numerous Cake products, connections, users, resources and expertise within the global blockchain industry.
Julian Hosp, co-founder and chief executive officer at Cake DeFi, said,
“By launching Cake DeFi Ventures, we strive toward bringing cryptocurrency and blockchain capabilities to the world. With Cake’s current status as Singapore’s and Southeast Asia’s fastest-growing platform, projects [that] we invest in can expect to receive strong support scaling globally.”
U-Zyn Chua, co-founder and chief technology officer at Cake DeFi, said,
“As an extension of our multiple blockchains support, and having built up an R&D arm with cryptography deep tech capability and specialization, investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance our web 3.0 offerings.”
To apply for funding from CDV, please email here with the project details. The Cake DeFi team will get in touch with shortlisted projects. Venture capital firms or investment funds interested in co-investment opportunities or strategic partnerships may also reach out for further discussion.
About Cake DeFi
Cake DeFi is a fully transparent, highly innovative and regulated fintech platform dedicated to providing access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is fully compliant with all regulatory requirements of the Monetary Authority of Singapore (MAS).
By enabling and empowering its users to harness the potential of DeFi, Cake DeFi aims to educate and inform people around the world on crypto and DeFi in a simple, easy to understand and hassle-free manner.
In Q4 2021, Cake DeFi almost doubled its confirmed users, which it managed to grow by over 10 times in the whole of 2021. A total of $230 million were paid out to customers as rewards during the year $75 million of it in the final quarter. The company grew its customers’ assets by six times in 2021. Cake DeFi aims to pay $400 million to customers as rewards by the end of 2022, and depending on crypto prices, this could go as high as $1 billion.
On the product side, the company is offering all kinds of decentralized asset classes on Cake DeFi, fulfilling its product roadmap for 2021. This includes liquidity mining, staking, freezer and lending. For this year, the company is planning to roll out a loan feature, which will be implemented in Q1 2022.
Furthermore, the company will start a new ‘cash flow visualization by assets’ page, to make it more user-friendly, and a ‘learn and earn program’ to help new users kick-off their investment journey. Cake DeFi will also focus on integrating the entire DeFi ecosystem in a simple and straightforward manner.
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