Hong Kong, Hong Kong, April 3rd, 2024, Chainwire
LBank Labs, a visionary blockchain venture fund with a successful track record in the crypto space, has announced a significant investment in Interop Ventures, an early stage venture fund supporting protocols and primitives embracing the vision of sovereign, interoperable, proof-of-stake blockchains. This strategic investment positions LBank Labs at the forefront of the rapidly evolving Interchain economy, an innovative concept set to redefine the blockchain and Web3 sectors.
Interop Ventures, having recently celebrated the soft close of Fund 1, is focused on empowering early-stage projects that are pivotal to the growth of the Interchain economy. This new investment paradigm is expected to catalyze societal transformation, akin to the Industrial Revolution, by enabling more robust, scalable, and interoperable blockchain infrastructures. Interop’s focus on overcoming current infrastructure and liquidity fragmentation is pivotal to unlocking the full potential of blockchain technology.
Sebastien Couture, General Partner at Interop Ventures, says, “As the Internet infrastructure transitioned from single servers to the cloud, blockchain infrastructure too must evolve into specialized, stratified components. Such a transformation not only facilitates scalability but also provides developers with a broader array of options for application development and framework selection. For blockchain infrastructure to scale effectively, it must become modular. We are confident that the Cosmos stack and IBC stand out as the premier technologies to fulfill this vision.”
Interop Ventures has already made investments into Noble, an asset issuance chain built for communication between blockchains, Movement Labs, a network of modular Move based blockchains, Lava Network, a modular data access layer, and FortyTwo, an interface for Interchain portfolios.
LBank Labs, with its extensive experience in supporting Web3 infrastructures, sees this partnership with Interop Ventures as a vital step towards advancing the Interchain concept. This investment reflects LBank Labs’ commitment to nurturing startups and driving innovation across global borders, leveraging their existing network in the ecosystem.
The investment by LBank Labs in Interop Ventures is a strategic collaboration set to empower entrepreneurs and innovators within the Web3 and blockchain spaces. This synergy aims to propel the growth of the Interchain economy, fostering the development of technologies and infrastructures that promise to be the bedrock of future digital economies. Through this partnership, both entities reaffirm their commitment to advancing the blockchain industry and shaping a future where decentralized, interoperable platforms drive economic and social progress.
“Our investment in Interop Ventures not only reflects LBank Labs’ strong belief in the potential of the Interchain economy, but also our confidence in the Interop team’s expertise to significantly advance this sector,” stated Jiayu Gao, Head of FOF at LBank Labs.
About Interop Ventures
Interop Ventures is an early-stage venture fund supporting teams committed to creating scalable, trust-minimized, and censorship-resistant blockchain infrastructure. Interop Ventures is the curator for Nebular Summit, the leading Interchain developer conference, taking place in Brussels on July 12-13, 2024. They also host The Interop podcast.
The portfolio of Interop Ventures features notable projects such as FortyTwo, Movement Labs, Lava Network and Noble Assets.
About LBank Labs
LBank Labs is a prominent blockchain investment fund with a focus on supporting innovative projects and entrepreneurs in the blockchain and cryptocurrency space. With a commitment to fostering technological advancements, LBank Labs actively seeks opportunities to contribute to the growth and development of the blockchain ecosystem.
LBank Labs’ portfolio includes projects like Entangle, Puffer Finance, LunarCrush, Navi Protocol, Exabits, Hivello, and many more. LBank Labs has also invested in VC funds such as Collab Currency, SevenX Ventures, IOSG Ventures, Blockchain Builders Fund, Public Works, and more.
Contact
PR Manager
Eddy Wang
LBank
eddy.wang@lbank.com
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