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CoinFund, a prominent US-based cryptocurrency venture capital firm, is making strategic moves into the Asian market with its first hire in Hong Kong, senior liquid analyst Dmitry Lapidus, according to a report in the South China Morning Post.
Lapidus was previously based in Singapore as an investment partner at crypto-native investment fund Dragonfly. He was previously an investment analyst in Hong Kong at Prince Street Capital, Old Mutual and BlackRock, according to his LinkedIn profile.
Founded in 2015 and based in New York, CoinFund's appointment of a Hong Kong-based executive signals its commitment to tapping into the vibrant Asian crypto ecosystem, the firm said.
Hong Kong's clear and supportive crypto regulations have emerged as a significant pull factor for CoinFund and other crypto-related businesses looking to establish a foothold in the region. The company sees Asia as a region of immense potential for crypto innovation and investment opportunities.
The firm said it aims to leverage its expertise and resources to support promising blockchain and crypto projects in Asia.
CoinFund has made over 120 investment deals, including crypto startups like NEAR, Worldcoin and LedgerX. In July 2023, the firm raised $158 million for a new crypto fund called CoinFund Seed IV Fund.