Blockchain incubator SmartUp secures two new investors

SmartUp has secured two new investments and entered a partnership with HKIBFA (Image NithidPhoto / iStockPhoto)

Hong Kong based blockchain incubator SmartUp has secured investments from Asia-Pacific blockchain funds DCapital and Soul Capital.

The investments for an undisclosed amount contribute to the US$10 million in funding SmartUp has secured from institutional investors since launching in May.

Hong Kong based Soul Capital was founded by GOGOVAN angel investor Billy So, while Mainland China based DCapital is a blockchain fund under the DGroup. The new investors will act as SmartUp's overseas corporate advisors.

SmartUp has meanwhile announced the launch of the new SmarUp APAC Blockchain Investment Alliance aimed at attracting more support for the incubator and its blockchain projects.

Finally, SmartUp and the Hong Kong International Blockchain and Financial Association (HKIBFA) have entered a strategic collaboration agreement aimed at jointly nurturing and incubating blockcain and technology projects that are related to the Belt and Road initiative.

“The participation of these two famous institutional investors is an endorsement to our blockchain incubator,” SmartUp co-founder Ric Wu said.

“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 was established to help remove barriers to receiving financing by blockchain startups and promote the development of a strong blockchain ecosystem in Hong Kong.

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