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 is an organization that takes an exchange-agnostic and protocol approach to support various projects through funding, acceleration, incubation, and networking. The venture capitalist arm of LBank, with $100 million assets under management (AUM), has a successful history of nurturing startups and helping them grow. The team not only provides direct investments but also aims to establish a robust fund network by investing in the top global funds to support portfolios from the network in terms of financial and resource value-add. Czhang Lin, an IC board member of Labs, is also a limited partner (LP) to NGC, Blockchain Founders Fund, and Lemniscap, while Eric He, Co-Founder of LBank, is an LP to SevenX Ventures fund I, II, and FOF, and IOSG Ventures.
ArkStream Capital, led by Founding Partner Allen Su and established by a collective of crypto-native founders with diverse backgrounds from institutions such as MIT, Stanford, BlackRock, Google, and Samsung, has gained recognition for its exceptional capabilities in research and growth strategies. The firm has earned accolades as one of the best-performing funds during the 2020-2022 cycle, successfully supporting over 70 portfolio companies, including prominent industry players like Flow, SEI, Republic, Manta, LiveArtX, and Mask. LBank Labs invests in ArkStream Capital to speed up Web3 innovation.
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With a focus on fostering on-chain user adoption, ArkStream Capital is 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 collaborating to develop Web3 technologies, which will revolutionize industries and empower users globally. LBank Labs is committed to establishing a network of Fund of Funds to optimize 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 across borders. In addition, LBank Labs recently announced strategic investments and partnerships with prominent venture funds Sparkle Ventures, Collab+Currency, and SevenX Ventures to advance Web3 technology.
About LBank
LBank is a renowned cryptocurrency exchange that was established in 2015. It provides its users with specialized financial derivatives, expert asset management services, and a secure platform for crypto trading. With over 9 million users from 210 regions across the world, LBank is a leading-edge platform that prioritizes the safety of users' funds and aims to promote the global adoption of cryptocurrency.
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