Giant Investment, a Chinese listed game company, has announced that it will invest $1 million in shares of Crypto VC Defiance Capital, located in Singapore and managed by Arthur Cheong.
The investment represents a part of the initial fundraising scale of $20 million, with the follow-up remaining open until the total scale reaches $100 million. Defiance Capital was previously a subsidiary of 3AC and should have been independent by now.
According to the agreement, Giant Investment, as an investor, will assume responsibility for the debt of the investment target within the limit of the subscribed capital. It will not be involved in the investment decision-making process and will only monitor the fund’s operation, management, investment decisions, and post-investment management progress, as well as the operational and developmental situation of the investment targets.
DeFiance was established on November 24, 2022, and has completed registration procedures according to relevant laws, regulations, rules, normative documents, and industry regulations. Its registration number is 146351. DF Capital Management Pte. Ltd. (institution identification number: 202216718N) manages DeFiance on behalf of its owner.
The investment transaction fund has been established and continues to exist, but it may be affected by various factors such as macroeconomic conditions, legal and policy changes, force majeure, and industry cycles, which may result in uncertain investment returns. Investors are advised to exercise caution and consider investment risks.
The investment was approved by the General Manager of Giant Investment and does not require submission to the company’s board of directors or shareholders’ meeting for approval. The transaction does not constitute a major asset restructuring or a restructuring listing under the Measures for the Administration of Major Asset Restructurings of Listed Companies, and there is no need for approval by relevant authorities.
DF Capital Management Pte. Ltd. manages DeFiance, an open-ended fund that aims to raise $20 million in initial capital and remain open until it reaches $100 million in total. The fund’s primary investment areas include digital assets, decentralized technology, and infrastructure in the Internet 3.0 sector. DF Capital has no connection or interest arrangement with the company or its controlling shareholders, actual controllers, shareholders holding more than 5% of shares, directors, supervisors, senior management personnel, or any other party involved in the investment fund.
DeFiance Liquid Venture Fund Limited, registered at 1 IFC, St. Heller, Jersey, JE2 3BX, is a company-style fund founded by Cheong Jun Yoong (Arthur). The fund’s initial fundraising scale is $20 million, with a total target scale of $100 million.
Source: https://azcoinnews.com/chinese-giant-investment-invests-1-million-in-singaporean-crypto-vc-defiance-capital.html
