Old Fashion Research (OFR) has finished its first close, having been operating since late 2021 but now coming out of the shadows. OFR, a multi-strategy blockchain investment fund led by several former Binance executives, invested in over 50 blockchain initiatives in its inaugural year.
According to a news release, Old Fashion Research is now emerging from the shadows, having operated in secret since its inception in late 2021. OFR invested more than $50 million in over 50 start-ups across many sectors, including WOO Network, Genopets, Metaverse Magna, and ZetaChain.
The Robinhood Crypto Fund is a venture capital fund established by Ling Zhang, the former vice president of mergers and acquisitions at Binance, and Wayne Fu, the firm’s former head of corporate development. Jiang Xin “JX,” who oversaw Binance Labs and Launchpad’s most important investment deals, is in charge of OFR’s venture arm. Zhang said that, “we are keen to seek founders who share the same long-term vision and passion for the crypto industry, and we are determined to grow with them together.”
The International Blockchain Investment Platform (OFR) was built with the goal of equipping investors with the skills and resources required to enter, participate in, and exit cryptocurrency-related assets. A group of leading limited partners from inside and outside the crypto industry invested in OFR. The family office of Gang Wang, JUE Capital, who was a founding investor at DiDi and a digital wallet SafePal, is among the other significant contributors.
On May 25, Andreessen Horowitz announced that it has closed its fourth cryptocurrency fund at $4.5 billion. The announcement came less than a year after a16z revealed the start of its $2.2 billion Crypto Fund III.
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