by Cindy Huynh
SmartUp, a Hong Kong-based blockchain incubation platform announced on September 13, 2018, that they received an undisclosed sum from D Capital and Soul Capital. The additional funding will help SmartUp build a global blockchain incubating ecosystem to aid blockchain-related startups with support, financing, consulting, and lead investing.
Investment from Institutional Investors in APAC Will Help SmartUp Expand
According to e27, in the last few months, SmartUp has been quick to raise funds to expand the incubator. The recent raise from D Capital and Soul Capital comes just months after their $5 million raise from Blockchain Japan, a group of blockchain investors in Japan. SmartUp’s recent raise from the institutional investors marks an important milestone in their journey.
These investors are heavily involved in some global blockchain technology projects. They also have some experts in blockchain technology in Soul Capital, the family venture fund.
“The participation of these two famous institutional investors is an endorsement to our blockchain incubator,” said Ric Wu, the co-founder of SmartUp. “The two funds have abundant resources in both blockchain and traditional sectors.”
SmartUp Launches APAC Blockchain Investment Alliance
In addition to the capital raise, SmartUp has also launched the ‘SmartUp APAC Blockchain Investment Alliance,’ an Alliance which should provide greater support for SmartUp and their blockchain projects.
Wu noted that the two institutional investors, D Capital and Soul Capital, will also be participating in the Alliance. Their funds, strategic resources, talent, and expertise will help SmartUp attract more quality blockchain-based projects to join the incubator.
The overall goal for SmartUp is to create a global blockchain incubator that provides blockchain-related startups with a variety of services that will help them grow and expand. The incubator has added a smart credit checking system that helps investors assess thousands of different blockchain-based projects internationally.
Any transaction conducted will also occur on the blockchain so they cannot be modified. Investors can use the strategic investor token (SIT) to invest in the blockchain-based startups and settle additional service fees.
“Transparency and credibility are essential in the investment world,” said Fay Lam, the co-founder, and CEO of SmartUp. “SmartUp’s smart credit system allows all participants in the ecosystem to take part in rating, and greatly improves the transparency and the credibility of the rating system, which in turn helps investment institutional investors making right decisions.”