As the number of entrepreneurial tech projects have increased globally, so too have the diversity of funds intended to support different types of blockchain projects. These types of projects largely breakdown stateside according the type and level of investment provided. Most institutional resource providers include incubators, accelerators and venture capital funds. Among these broad categories, incubators focus most on “soft” resource support like mentorship, networking, idea development while the venture capital funds tend to provide capital investment in addition to these other soft factors.
In China, where blockchain technology is already being integrated into the everyday operations of well-known corporations like Alibaba, Blockchain and Tencent, projects intended to support blockchain startups have also emerged. While all of the vc funds listed below are focused on blockchain projects the funds vary in size, scope and capital investment offered. According to the PANews China team, the following are the list of top ten venture capital funds focused on blockchain projects in China:
1.分布式资本 Fenbushi
2.丹华资本 Danhua VC
3. blockvc
4.了得资本 LDCapital
5.硬币资本 Inblockchain
6.节点资本 NodeCapital
7.八维资本 8 Decimal Capital
8.FBG Capital
9.连接资本 LinkVC
10.创世资本 Genesis
While these projects tend to vary in terms of the amount and terms of capital investment, two key themes seem to characterize the top VC funds in China: a focus on global reach and characterization as incubators. All of the funds offer website landing pages in English and do not have a particular requirement in regards to project origins. Rather, they focus on the quality and progress of the particular blockchain startup as the primary determinant of whether or not to invest resources.
Secondly, unlike many projects that support blockchain startups in America which include everything from vc to accelerators, Chinese blockchain funds tend to characterize themselves as “incubators.” This nominal designation is in spite of relatively higher levels of capital investment (up to $500,000) than the amount expected from stateside incubators. Further research into these China-based funds, PANews US has identified a few top, US friendly contenders for best incubators for blockchain projects along with a list of reasons.
Our metrics are loosely based on the quality of “soft” support along with capital investment availability offered by these funds. The top contender in China seems to be Fenbushi VC. The VC Fund has a strong advisory team which boasts blockchain luminaries like Vitalik Buterin. Given the 2018 rise of enterprise blockchain directed towards traditional industries like finance, law and healthcare, the fund’s advisory network with “partners who have experience in both “traditional finance and blockchain technology” will almost certainly prove to be particularly valuable.
Further research and due diligence into the world of Chinese affiliate blockchain incubators reveals a few other incubator programs that are particularly promising. These include Binance Labs and Huobi Labs, which have both have launched incubator programs intended to support emerging projects in Asia with significant levels of networking support and capital investment. Binance recently moved its headquarters to Malta and Huobi Labs is based in Singapore, However, the two companies have close ties to China and the moves for their headquarters are linked more to international regulatory concerns. Both labs arguably have the strongest presence and name recognition in Asia, and we’ve included these accelerators here for that reason.
The Binance Blockchain Labs are run by founding company Binance’s venture arm intended to incubate, invest and empower blockchain and cryptocurrency entrepreneurs. Binance Lab’s incubation model seems most similar to incubators stateside, providing a clear set of guidelines and designated contract in exchange for incubation. The Binance Labs Incubation Program is notable for its relatively high amount of seed funding in exchange for equity. The Incubation Program asks for 10% in exchange for $500K. Consider this in contrast to stateside accelerator Y Combinator, which puts down $150,000 for 7% equity in the company. Furthermore, Binance is a company with a good reputation in Asia and name value in global blockchain circles. In addition to the mentorship associated with the brand, the addition of the Binance name will certainly add clout to any emerging startup.
Finally, the Huobi Labs is run by leading global digital asset exchange of the same name, Huobi Global. Unlike Binance Labs or Fenbushi VC, the Huobi Labs incubator is notable because it offers funding in crypto form, along with key networks and mentorship from those affiliated with the Huobi network. The application process is quite simple, and consists of a standard GoogleForm with just three key questions. The amount of equity requested in exchange for the crypto funding is not listed on the name website. However, the strength of the Huobi brand makes Huobi Labs a strong contender in list of valuable incubation experiences of blockchain startups.
It seems that while most Chinese VC funds call themselves incubators, they vary in size, resources and funding. Nonetheless, whether stateside or across the Pacific, blockchain startups should consider the same questions when determining which program to apply to. First and foremost is to identify which gaps the startup needs to fill in order to succeed: Some may need more networks, others more funding. Are the startup’s ambitions global or largely regional? Depending on the answers to these considerations, startups can apply to the blockchain accelerators that are the right fit for them.
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