Web3 fund ABCDE halts new investments and fundraising to support existing projects and launch its new crypto incubator, Vernal.
Web3 and blockchain-focused investment fund ABCDE is halting new investments, but the $400 million fund remains committed to supporting its existing projects.
In an April 19 X post, ABCDE co-founder and Huobi exchange founder Du Jun said the $400 million fund will no longer invest in new projects or raise capital for the second phase of the fund.
However, Jun said the fund will continue to “post-investment support and exit arrangements of existing projects” to ensure the firm’s commitment to entrepreneurs and liquidity providers (LPs).
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