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Sora Ventures relocates to Taiwan

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Joyashree Dey Follow

INDIA

Dec, 15 2022

Dec, 15 2022

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Sora Ventures, an Asian venture capital firm, has announced that it is relocating its operations to Taipei in Taiwan in favor of "a very crypto-friendly atmosphere." Previously, Sora Ventures had offices in Hong Kong and other parts of Asia.


Sora, however, has a very positive outlook on the Chinese cryptocurrency market. The managing partner of Sora Ventures, Jason Fang, recently indicated on CryptoSlate's SlateCast that the Chinese crypto industry will "eventually open up... when that happens, we want to be prepared for it."


Sora Enterprises' ongoing aim "to hire new staff and expand on operations for a potential Fund 2" includes moving to Taipei. The business has a track record of selecting profitable investments, managing risks, and timing the market.


It was one of the first venture capital funds in Asia devoted to digital assets and blockchain technology. However, it decided to sell out the majority of its assets in late 2021 as an early investor in 50 other web3-related businesses, including Immutable, Origin Protocol, and Casper Labs.


Since then, it has been “holding USD for over a year now, making very conservative bets on founders [Fang] personally knew and had a strong track record in the industry.”


In an interview with CryptoSlate, Fang discussed the relocation to Taiwan. As one of the "leanest blockchain funds in Asia to deploy a hybrid strategy adapted to the Web3 environment," Sora now oversees approximately $70M in assets.


Fang stated, “Our biggest advantage today is that we’re probably one of the oldest funds in Asia that have data on our fund performance on a monthly basis since early 2018. If you’re seeing what’s going on in our industry recently, the real issue with operating funds really boils to 2 things: transparency and discipline.”


Fang continued by stating that risk management is the most crucial aspect of the business and that Sora is aiming for returns that are three to four times higher than their current returns. Fang concluded by saying that ac“We’ve played every hand right the last 2 years, and we’re now looking to finish strong and reward our investors for staying with us since 2018.” 


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Joyashree Dey

CBW - External Analyst

INDIA

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