According to CoinDesk, Piers Dunhill, the great-great-grandson of business icon Sir Alfred Dunhill, is making a contrarian bet on crypto as the industry faces a bear market. Dunhill believes that the current lack of investment in crypto presents an opportunity for him to invest. Dunhill Ventures and the Dunhill Financial subsidiary are investing $3 million in Lichtenstein-regulated VC Mocha Ventures, which aims to close a 30 million euro ($32 million) fund. Mocha Ventures plans to invest in areas such as decentralized finance (DeFi) and the adoption of crypto as a payment rail in emerging markets like Africa. Mocha Venture general partner Renato Brioni stated that the firm's association with Dunhill extends beyond the investment amount, as the Dunhill family office has invited Mocha Ventures into their inner circle of family offices in Singapore, Hong Kong, and Dubai to work together on closing the fund.