HONG KONG, Oct 16, 2018 - (ACN Newswire) - Prominent Beijing-based investment fund PreAngel has joined with Coinsuper, the largest cryptoasset exchange in Hong Kong, in a long-term strategic partnership to manage the CEN Fund, a fund dedicated to supporting the primary market in blockchain projects worldwide.
As a founding member of the Coinsuper Club, PreAngel is bullishly optimistic regarding management and the long-term prospects for Coinsuper. Currently, the founding partners are enlisting legal counsel to push forward on establishing the CEN Fund, and are expected to invite various other institutions on board in future.
CEN Fund will focus on the individual and institutional holders of CEN (Coinsuper's platform token) and engages these holders by way of limited partnership, which will be jointly managed by PreAngel and Coinsuper.
PreAngel will be primarily responsible for shortlisting blockchain projects from around the world for investment, supporting project issuers in fundraising in the primary market and advising on management service providers in the secondary market. Coinsuper will oversee fundraising, account management and token listings on exchanges.
Industry analysts believe that with the maturation and expansion of the blockchain industry, project issuing enterprises will transform their strategies from pursuing technical security alone to developing comprehensive strengths in capital, market and management, among other key pillars, by compliant and legal means.
Echoing the market trend where an increasing number of project issuers embark on in-depth cooperation with investors and professional services, the CEN Fund is set up to bring mutual benefit to all parties including funds, project issuers and exchanges. The CEN Fund will actively explore various management models, and consider seeking approval from relevant regulatory authorities where necessary.
CEN Fund will be used to invest in global premium blockchain projects run by dedicated fund managers. Apart from directly contributing to projects, the managers at CEN Fund will also leverage their own expertise and resources in the capital market in synergy with Coinsuper's platform advantages to provide projects with all-round support in fundraising, token listing and capitalization management, among other features.
CEN Fund-backed projects can enjoy fast track token listing services, or even qualify for token listing with no charges. CEN Fund projects enjoy the privileges of earlier entry and extra quotas in the pre-listing subscriptions of selected projects. As such, CEN Fund will act as the critical link between the Coinsuper platform and project parties, able to connect funds to all projects, exchanges and CEN holders into a closed loop of multilateral benefits and shared interests.
PreAngel focuses on early-stage investment and enjoys a deep bench of prominent professionals and institutions as limited partners, including Wei LI of Green Pine Capital, Wensheng CAI of Meitu Technology, Tao FENG of Shanghai New Margin Ventures, Wei CHEN of Oriental Fortune Capital, Bin WU of Vipshop Holdings, Xiangyang YANG of Yuanzheng Investment, Xiaoying LIU of Eagles Fund, Qihoo 360, LoEco and Ningbo Angel Investment Guidance Fund, with investments in more than 300 technology startups in China and the U.S.
Coinsuper is committed to crafting a world-class cryptocurrency exchange of compliance and security, and has gained a solid position among the top 20 for 24 hour trading volume with over a million active users. See https://www.coinsuper.com and Telegram https://t.me/CoinsuperEx.
Oct 16, 2018 15:00 HKT/SGT
Topic: Joint Venture
Sectors: Investors/Exchanges, Currencies, FinTech/Chains, Digital, Legal & Compliance, ICO's
From the Asia Corporate News Network
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