$400M Web3 investment fund ABCDE halts new investments, fundraising

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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