Web3 venture capital fund Lingfeng Innovation Fund completes $20 million fundraising

According to The Block, the Web3 venture capital fund Lingfeng Innovation Fund (LIF), with former Binance Labs executive director Nicole Zhang as a founding partner, completed a $20 million fundraising, with the ultimate goal of $30 million. The funds raised are used to invest in crypto Start-up companies, LIF focuses on early projects, covering pre-seed to A-round stage, and has made 10 investments so far, including ApolloX, ZetaChain and Ultiverse, etc. LIF is a sister fund of Lingfeng Capital, a Beijing-based financial technology investment company, which holds a Singapore capital market service license. LPs include CertiK and Singapore family office Kamet Capital Partners. In addition, Lingfeng Capital manages more than US$400 million in assets.