Huiyin Group launches $20m bitcoin venture fund

Huiyin Group announced the launch of a subsidiary fund Huiyin Blockchain Ventures (HBV) that partners with innovative start-ups to help grow the future of the blockchain economy.

But while the firm may have “blockchain” in its name, those close to the fund suggested the firm is unlikely to invest in enterprise or so-called alternative blockchain projects.

“We are seeking to invest into bitcoin-related companies to help enrich the industry, as we see a large opportunity for a return on our investment. As the bitcoin industry continually matures, the use of bitcoin will continue to grow and proliferate in China, as well as the rest of the world. HBV intends to be at the forefront of this technology as it continues to gain traction globally,” said Huiyin Blockchain Ventures’ James Wo.

The venture has already begun it’s investing through their fund in Unocoin, the Indian bitcoin wallet; content monetization platform Yours and Purse.io, which is a bitcoin-powered e-commerce marketplace.

HBV parent company Huiyin Group was founded in 2002 by a Belgian solar engineer Juha Ven to manufacture solar energy equipment for European clients. This Beijing-based firm manages various investments in commerce, energy, medicine, agriculture, tourism, electronics, chemicals, commerce, among others.