Asian VC firm Sora Ventures has announced that it will move its operations to Taipei, Taiwan, prioritizing a “very crypto-friendly environment.” Sora Ventures was previously based in Hong Kong and other parts of Asia.
However, Sora is by no means bearish on the Chinese cryptocurrency industry.recent story of crypto slate Jason Fang of SlateCast, managing partner of Sora Ventures, said China’s cryptocurrency market “will eventually open up…when that happens, we want to be ready for it.”
The move of Sora Ventures to Taipei is part of an ongoing strategy to “hire new staff and expand our potential Fund 2 operations.” The firm has historically made sound business decisions regarding investments, risk management and its ability to time markets.
One of the earliest venture funds in Asia specializing in blockchain technology and digital assets. However, as an early investor in Immutable, Origin Protocol, Casper Labs, and 50 other web3-related businesses, we have chosen to exit most of our positions in late 2021.
Since then it says “Hold USD for more than a year and bet very conservatively About the founder [Fang] He personally knew the industry well and had a strong track record. “
Fang spoke to CryptoSlate to give insight into Taiwan’s move. Currently, Sora is one of “Asia’s Leanest Blockchain Funds with a Hybrid Strategy Tailored to the Web3 Environment”, where he has over $70 million in assets under management. Fan said:
“Our biggest advantage today is that we are probably one of the oldest funds in Asia. Data on fund performance on a monthly basis since inception2018.
If Looking at what’s been happening in our industry lately, the real problem with working capital is really It boils down to two things: transparency and discipline. “
Fang went on to explain that while Sora’s investors are up “several times” and are aiming for three to four times the current returns, risk management is the most important aspect of the company. In conclusion, Fang commented:
“We played every hand right. past 2 years and we are now aiming to finish strong And reward investors who have been with us since 2018. “
Disclosure: Sora Ventures invests in CryptoSlate as of 2022.