Cake DeFi, a Singapore-based provider of decentralized finance services and applications, has launched Cake DeFi Ventures (CDV), a venture capital arm with US$100 million in earmarked capital.

CDV will invest in technology startups, particularly those in the metaverse, non-fungible token (NFT), blockchain and e-sports industries that will bring synergistic value to Cake DeFi’s core business.

The new firm is led by Cake DeFi co-founders Julian Hosp, chief executive officer, and U-Zyn Chua, chief technology officer, along with newly appointed investment partner Nicholas Khoo.

Portfolio companies of CDV will receive strong support from Cake DeFi’s global leadership team, and the opportunity to access Cake DeFi’s connections, resources and expertise within the global blockchain industry. 

“By launching Cake DeFi Ventures, we want to bring cryptocurrency and blockchain capabilities to the world. Cake DeFi is one of Southeast Asia's fastest-growing fintech platforms. The projects that we invest in can expect to receive strong support scaling globally,” says Hosp.

According to Cake DeFi, it is in early- to late-stage discussions with a number of global startups in Southeast Asia, the United States, and Europe. For its first strategic investment, Cake DeFi has selected The Edge Of Company, a tech, media and events startup which has been building its capabilities in the NFT and Web3 space. 

Cake DeFi is registered with the Monetary Authority of Singapore. It provides access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets.

The firm boasts a tenfold growth in its registered customer base in 2021, with over US$1 billion in customer assets. It says its customers received over US$230 million in rewards during the year.