SmartUp, a blockchain incubation platform connecting global startups with investors and co-workers around the world, announced today it has received an undisclosed sum in investment from DCapital and Soul Capital, two prominent blockchain institutional investors in APAC.
The round comes just over three months after the Hong Kong-based incubator secured US$5 million in funding from Blockchain Japan, a network of blockchain investors in Japan.
Additionally, SmartUp has announced the launch of ‘SmartUp APAC Blockchain Investment Alliance’ to channel more support for the company and its blockchain projects, so as to further enhance its global blockchain ecosystem.
Ric Wu, Co-founder of SmartUp said: “The participation of these two famous institutional investors is an endorsement to our blockchain incubator. The two funds have an abundant resources in both blockchain and traditional sectors. Following their participation to the ‘SmartUp APAC Blockchain Alliance’, along with investment, SmartUp could integrate strategic resources and talents, so as to attract more partners and quality projects to join us, hence further our success.”
SmartUp aims to build a global blockchain incubating ecosystem to provide startups with one-stop access to incubating services including support, consulting, lead investing and financing. It has introduced a smart credit checking system to help investors analyse tens of thousands of projects from around the world, global resources matching for professionals with different areas of expertise and lead investment and global fundraising.
In addition, all transactions will be kept on blockchain so they can not be modified, and investors can choose to use the SIT (strategic investor token) cryptocurrency to invest and settle service fees.
Since its launch, SmartUp has received an amount of over US$10 million from institutional investors.
Fay Lam, Co-founder and CEO of SmartUp, said: “Transparency and credibility are essential in the investment world. SmartUp’s smart credit system allows all participants in the ecosystem to take part in rating, and greatly improves the transparency and the credibility of the rating system, which in turn helps investment institutional investors making right decisions.”
“The establishment of SmartUp APAC Blockchain Investment Alliance today allows us to ride on the trend of ‘blockchain reform’, which is a blockchain-driven digital transformation for listed companies and traditional companies through blockchain, and greatly improve their competitiveness, such as our partner Shinerain, a Chinese restaurant chain. We expect more listed companies and industry leaders will soon join the SmartUp blockchain ecosystem, and develop blockchain application for their businesses, so as to reduce cost, improve efficiency and build mutual trust,” Lam added.
Concurrently, SmartUp has reached a strategic collaboration agreement with Hong Kong International Blockchain & Financial Association (HKIBFA), under which the incubator will strengthen its complementary strategic relationship with the blockchain body and nurture and incubate blockchain technology and projects, which are related to the ‘Belt and Road’ Strategy together, hence promote the sustainable development of the Hong Kong and Asian blockchain markets.
DCapital is an alternative fund of the APAC large cap fund, DGroup, and focuses on blockchain and alternative investment. The fund was involved in participating and investing various global quality blockchain and technology projects, and its founder used to serve as the investment director of a well-known fund in APAC.
Founded by a Hong Kong veteran angel investor, Soul Capital is a family venture fund which focuses on blockchain and emerging technologies investment, and the team includes various experts in blockchain and technology sector.