Fenbushi Capital Closes a $23M Funding Round for Its Filecoin Ecosystem Fund

Recently, Fenbushi Capital announced that it has completed the fundraising of the Filecoin Ecosystem Fund. The fund is oversubscribed, and the AUM has reached 300,000 FILs (about $23 million at time of writing).

In addition to the two main cornerstone investors, Fenbushi Capital and Protocol Labs, the investors of the Filecoin Ecosystem Fund also include:

  1. Mining service providers: 1475, ST Cloud, IPFSUnion, KeyPool
  2. Investment institutions: Bigger Capital, Bitrise Capital, FBG, Coinsummer, SNZ
  3. Public chains: Neo Eco Fund
  4. Exchanges: Bitmart, WhaleEx
  5. Wallets: Math Wallet
  6. Individual investors: such as Wu Gang, founder of Bixin, and Gulu, founder of MyKey.

This fund will invest in all projects related to IPFS and Filecoin ecosystem except FIL mining service providers, including:

  1. Distributed storage products involving IPFS/Filecoin
  2. dApps using IPFS/Filecoin as a storage solution
  3. DeFi projects related to Filecoin
  4. Projects deployed on the Filecoin chain, such as layer2, tooling, and future dApps

Since the beginning of this year, Fenbushi Capital has established extensive partnerships with Filecoin Slingshot, Tachyon, Longhash Ventures, etc., to capture opportunities to invest in newly-emerging innovative projects in the Filecoin ecosystem globally.

Colin Evran, Filecoin Ecosystem Lead, said:

“We’re at an inflection point where thousands of developers and hundreds of startups are joining the IPFS, Filecoin and libp2p ecosystems, many of which are becoming some of the larger companies building in Web3. There is tremendous potential for experienced investors to help these organizations grow through their advice and growth capital. Fenbushi has been an active community member in the IPFS & Filecoin ecosystems for many years, and the Fenbushi Filecoin Ecosystem Fund is well positioned to help those developers and entrepreneurs realize their potential.”

In the transition from Web 2.0 to Web 3.0, decentralized storage protocols led by IPFS/Filecoin will play a key role as the infrastructure for the new generation. The purpose of this fund is to promote the healthy and orderly development of the IPFS/Filecoin ecosystem. Fenbushi Capital will actively participate in the process and contribute to the construction and development of the ecosystem.

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