Giant Network: subsidiaries contribute US $1 million to subscribe for DeFiance of web3.0

Thanks to CTOnews.com netizen MissBook for the clue delivery! CTOnews.com May 12 news, Giant Network issued an announcement announcing that its wholly-owned subsidiary Giant Investment signed a "subscription agreement" with DeFiance Liquid Venture Fund Limited (referred to as "DeFiance") on May 10, 2023. Giant Investment intends to subscribe for DeFiance shares with its own funds of US $1 million and become a shareholder of DeFiance.

CTOnews.com learned from the announcement that DeFiance, which was established on November 24, 2022, is an open-end fund with an initial fund of US $2000 and will remain open until the total size reaches US $100 million. At present, the fund is still in the stage of raising.

DF Capital Management Pte, the fund manager of DeFiance. Ltd. Founded on May 14, 2022, it mainly invests in digital assets, decentralized technology and infrastructure in Internet 3.0.