Web3 Fund ABCDE Halts New Investments, Focuses on Existing Portfolio

ABCDE, a prominent Web3 and blockchain investment fund, has announced a strategic shift away from fundraising. It will cease accepting new investments and halt its second-phase fundraising efforts while focusing on supporting its existing portfolio of projects. The $400 million fund, led by co-founder Du Jun, former Huobi exchange founder, will prioritize post-investment support and exit arrangements for its current portfolio to ensure commitments to entrepreneurs and liquidity providers are met. This decision follows a public announcement from June 19 via X.