DeFiance Capital completes first close of $100 million liquid token fund
DeFiance Capital completed the first close of a new $100 million liquid token fund by raising "eight figures" in the process, two sources with direct knowledge of the matter told The Block. While that could mean anything between $10 million and $99 million, the initial raise came in under $50 million, said one of the sources. The fund has raised “eight figures” and began investing this month.
The Block first reported in September that DeFiance was seeking $100 million for a liquid token fund and that almost half the amount had been committed. Some of those commitments were reduced after the FTX exchange collapsed in November, but the fund still managed to close the first tranche and began investing this month, the source said. "A good mix of investors" backed the vehicle, including crypto funds of funds, family offices and some of DeFiance's existing investors, the source added.DeFiance Capital was founded in 2020 in Singapore by Cheong, a popular crypto personality with over 145,000 Twitter followers.
Source
@CryptoWorldAnalysis
