DeFiance Capital raises ‘eight-figure’ investment


Venture capital firm DeFiance Capital has raised an “eight figure” investment. This is reported The Block.

According to people familiar with the matter, the company held the first close of its $100 million “liquid token fund,” helped by a “good mix of investors” in the form of other crypto funds, family offices and private savers.

DeFiance Capital was founded in 2020 in Singapore by Arthur Chan. Previously, the company positioned itself as a “sub-fund” of Three Arrow Capital (3AC) going through bankruptcy proceedings.

In July 2022, DeFiance distanced itself from 3AC and announced its operational independence.

For the first time, Arthur Chan’s venture capital firm reported raising $100 million for his “liquid token fund” last September. Then DeFiance managed to raise almost half of the amount.

According to some reports, part of the company’s liabilities were reduced after the collapse of FTX, but the fund still managed to close the first tranche and start investing.

“Several VCs have launched tokens that have fallen below their valuations. IDO/IEO. Some digital assets are even trading below their latest private round valuation. This situation is further exacerbated by the onset of a bear market that has led to indiscriminate selling of coins across the board,” DeFiance said in a report.

The company believes that several crypto startups managed to place assets with an extremely favorable risk-reward ratio.

Recall that in the period from February 25 to March 3, crypto funds recorded an outflow of $17 million against $1.9 million a week earlier. CoinShares analysts attributed this situation to regulatory uncertainty.

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