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).
“My personal work focus will also gradually shift from financial investment in the primary market to strategic investment-led and deep incubation-based, focusing more on industrial synergy and long-term value creation,” Jun added.
Source: Du Jun
The announcement comes nearly three months after ABCDE’s last investment into an Ethereum layer-2 (L2) solution, Soon (Solana Optimistic Network), which<a