Global Digital Bank Consortium Blockchain Investment Fund Launched By Three Chinese Firms

Shenzhen Hande Financial Technology Holdings Co., Ltd (HDFH), Yillion Bank and Zhongguancun Private Equity & Venture Capital Association (ZVCA) have launched the Global Digital Bank Consortium Blockchain Investment Fund.

Officially launched at the National Exhibition and Convention Center (Shanghai) during the 2nd China International Import Expo (CIIE), the fund will invest in digital banks and proven FinTech infrastructure platforms worldwide. It will also integrate the capabilities of the three parties’ management teams to facilitate the upgrading of investment targets, ultimately maximizing value in the capital markets.

The size of fund will reportedly be around $1 billion with a term consisting of a 6-year investment phase and 2-year exit phase. The Global Digital Bank Consortium Blockchain Investment Fund will initially invest in and digitally transform a bank, which will then serve as the main node of the global digital bank consortium blockchain.

“Based on the investors’ accumulation of experience in the fintech sector, the fund plans to invest in and create a leading digital bank, through which it will build a global digital bank consortium blockchain,” said HDFH Chairman Cao Tong said. “The first step is to invest in and digitally transform a bank. The second step is to build a global digital bank consortium blockchain, with the digitally transformed bank as the main node. The fund empowers the targets through investment and fintech transformation, while building an innovative global digital bank consortium blockchain, achieving broader value for the participating digital banks.”

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