KuCoin Labs Launches $50 Million Fund to Find The Next Crypto Gem
On April 14, 2021, KuCoin, an IDG backed crypto exchange, announced the official launch of KuCoin Labs, an incubator and research arm in the KuCoin ecosystem. As the first step, KuCoin Labs has also established a $50 million fund to find the next crypto gem and empower the development of early-stage crypto projects.
The predecessor of KuCoin Labs was the Investment and Incubation Program team, which was established by KuCoin in May 2018. After 2 years of development, the team has brought together a group of crypto experts who have engaged in market research, analysis, investment and incubation in the crypto industry for a long time. KuCoin Labs now possesses a portfolio of over 50 projects including Arweave, MultiVAC, CertiK, OneLedger, LUKSO and Ankr, in sectors such as infrastructure, DeFi, and NFT.
Besides investments in building projects directly at an early stage, KuCoin Labs will further empower the development of high-quality blockchain projects through marketing and PR support, business partnership support, secondary market fast-track, blockchain technical support, legal advice, business planning, token economy design, and more. In the future, KuCoin Labs will also provide diversified assistance through KuCoin ecosystem for new blockchain projects.
Johnny Lyu, the CEO of KuCoin Global, stated, “As the crypto market cap breaks $2 trillion, KuCoin has also seen explosive growth. KuCoin’s trading volume for Q1 increased by 465%, with user growth increasing by 577%. With the launch of KuCoin Labs, KuCoin will discover more hidden gems in the crypto space, and empower their development through various KuCoin offerings including the upcoming KuCoin Community Chain. Together, we will drive for the mass adoption of blockchain.”
Established in September 2017, KuCoin has grown into one of the most popular crypto exchanges in the world. As the home of crypto gems, KuCoin has supported over 250 promising projects. In November 2018, KuCoin announced $20 million (USD) in round A funding from IDG Capital and Matrix Partners.
About KuCoin Labs
Initially founded in May 2018 as the KuCoin Investment and Incubation Program, KuCoin Labs is the investment and research force of the KuCoin Ecosystem. With a group of experts in research and market orientations, KuCoin Labs diversifies and intensifies investments into projects, ecosystems and communities at a very early stage to help more BUIDLers achieve sustainable growth and success in the decentralized world.
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