Fenbushi Capital is the first Chinese venture capital fund that supports companies that develop innovative solutions based on blockchain technologies. Fenbushi Capital was founded in October 2015 with funding in the amount of $ 50 million by the Chinese auto parts company Wanxiang Group. The company is headquartered in Asia-Pacific (APAC).
Fenbushi Capital is one of the first venture capital funds in China that invests exclusively in companies supporting blockchain. The founders and interoperability partners of which are Feng Xiao, Bo Shen, and perhaps the most remarkable fact related to Fenbushi is that Vitalik Buterin is the creator of Ethereum among his advisers.
During the seed round, Fenbushi Capital has already invested $ 1 million in Tierion. On July 18, 2017, the Tierion team announced the creation of a system that standardizes the holding of token sales of cryptocurrency projects in conjunction with the Element Group.
The Tierion universal platform for digital data verification was announced on July 10. In addition to Fenbushi, Blockchain Capital and Digital Currency Group took part in the launch of the platform. The main phase of token sale was launched on July 27, and on July 22, presale tokens took place. The platform token, which was sold during the period token sale, complied with the ERC20 standard and was used as a platform service payment mechanism and an economic tool to maintain network stability. The team raised funds to create a global network and cover the costs of ongoing technology development in the Tierion ecosystem.
Vitalik Buterin leaving the company
In October 2018, Vitalik Buterin decided that he would no longer be employed full time and would only play an advisory role. The Fund Advisor is a completely new role for Buterin, who nine months ago was the founder and general partner of the fund, where he still appears on the Fenbushi website, as such. With his active investment participation in blockchain projects, he played an important role in Fenbushi Capital.
Vitalik says that he is proud to have worked with the Fenbushi Capital team, who support a large group of talented entrepreneurs who create a global blockchain ecosystem.
The founder of the fund, Bo Shen, said that with the support of Vitalik, Fenbushi created teams with unprecedented experience in blockchain technology, which in turn allowed the fund to become a strategic partner and close consultant of its portfolio companies, as well as a key public opinion leader in the blockchain industry.
Fenbushi Capital, besides being one of the best venture capital funds, also focuses on creating companies that support blockchain.
Hashgard is the first project that is initiated and managed by Fenbushi Capital. Hashgard creates an asset management ecosystem that connects various key components, such as KYC-authentication, market forecasts, and data validation, on one convenient platform.
BKFUND is a digital asset investment fund, established in December 2017, which is supported by Fenbushi Capital Venture Fund. In terms of profits in 2018, the percentage of return against the dollar is 120%. The fund made more than 20 investments in early 2018 when the market was at its peak.
Fenbushi Capital has a partnership with the NEO Name Service (NNS), which allows users to create NEO domains that can be used instead of public keys as the recipient's address when making transfers (transactions). NewEconoLabs (NEL is the NEO development team in China) believe that Fenbushi Capital's investments are proof of the quality of the NNS project. NEL also hopes that investment will accelerate development and increase brand awareness.
The fund has no more partners since the team prefers to play a strategic role in the advisory board of almost every project in which it invests.
Fenbushi Capital has an experienced investment team in the blockchain industry:
- Dr. Feng Xiao. Founder and General Partner of Fenbushi Capital. He has more than 20 years of experience in the management of securities and assets. Xiao is the founder of Bosera Asset Management, one of the first major mutual funds in China, focusing on insurance and pensions. He is currently the vice-chairman of Wanxiang Financial Holdings.
- Bo Shen. Founder and General Partner of Fenbushi Capital. He is the developer of the BitShare platform, which performs the functions of a decentralized exchange and provides users with the capabilities inherent in banks. In many projects that Fenbushi Capital invests in, Bo Sheng performs an advisor's robot. He is also the executive director at DACx and ZAFED and has experience at Shanghai Huaji Internet Holding as the CEO.
- Vitalik Buterin. He is the founder and now an adviser at Fenbushi Capital, where he did a lot for this fund.
In most of the team, besides the main fund, it also works in Hashgard and in BKFUND, and more information about them can be obtained on the sites of these projects.