LBank Labs Partners with Symbolic Capital to Fuel Innovation in Web3 Ecosystem July 20, 2023 July 20, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 20, 2023 by Kelly Cromley

LBank Labs Partners with Symbolic Capital to Fuel Innovation in Web3 Ecosystem

LBank Labs, a prominent player in the field of blockchain venture funding, has recently disclosed its strategic investment in Symbolic Capital. Symbolic Capital is a well-established venture capital firm co-founded by Sandeep Nailwal and Kenzi Wang. The objective of this collaboration is to foster innovation and offer comprehensive assistance for the growth of highly scalable Web3 infrastructures worldwide.

LBank Labs’ Commitment to Nurturing Startups:

LBank Labs has gained a reputation for its protocol and exchange-agnostic methodology, which involves providing direct funding, acceleration, incubation, and extensive networking support to projects. As the venture capital division of LBank, a prominent global cryptocurrency exchange, our company oversees a substantial portfolio of $100 million in assets under management (AUM). Our primary objective is to support the development and expansion of startups, utilizing our extensive network to provide them with valuable resources and opportunities for growth. LBank Labs strives to build a robust fund network by making strategic investments in leading global funds. This initiative is designed to bolster portfolios and enhance the overall financial and resource value of the network, in addition to direct investments.

Symbolic Capital: A Visionary Venture Capital Firm:

Symbolic Capital is a venture capital firm co-founded by Sandeep Nailwal and Kenzi Wang. The firm operates based on a thesis-driven approach, with a specific focus on identifying and supporting the most promising blockchain founders. Its primary objective is to facilitate the growth and advancement of these entrepreneurs in the blockchain industry. Symbolic Capital maintains a positive outlook on the future of Web3, despite the obstacles posed by a period of reduced funding in the cryptocurrency industry commonly referred to as a ‘funding winter’. They view Web3 as the natural progression in the digital ecosystem, representing the next stage of evolution. Kenzi Wang, one of the Co-founders of Symbolic Capital, has expressed great enthusiasm regarding the partnership with LBank Labs. He emphasized the alignment of their vision, which centers around the development of the future of cryptocurrency and providing support to innovative startups, with a particular focus on those emerging from various markets.

LBank Labs’ Empowerment of Web3 Ecosystem:

LBank Labs is committed to supporting the expansion of highly scalable Web3 infrastructures and empowering startups globally, with a focus on investment opportunities. The decision to strategically invest in Symbolic Capital demonstrates its dedication to promoting the widespread use of decentralized applications. LBank Labs, boasting an impressive $100 million in assets under management and a robust global network, is strategically positioned to deliver substantial value to Symbolic Capital. This partnership holds the potential for mutual growth and a resounding success.

Building Comprehensive Fund of Funds Network:

LBank Labs is dedicated to reinforcing its commitment through the establishment of a comprehensive network of Fund of Funds. This initiative aims to improve the performance and diversification of its portfolios, while also highlighting the inherent value of its ecosystem network. LBank Labs, with its robust presence in seven global regions, functions as a prominent catalyst for promoting cross-border collaboration and driving innovation.

LBank Labs, a leading participant in the web3 sector, adopts a flexible strategy to empower startups and foster innovation within the blockchain industry. LBank Labs is actively involved in driving the progress of Web3 infrastructures and expediting the widespread acceptance of decentralized applications through strategic investments and collaborative partnerships, such as Symbolic Capital. Leveraging a robust network of industry professionals and a widespread international footprint, LBank Labs is strategically positioned to influence the trajectory of cryptocurrency and drive long-term development in the ever-evolving web3 environment.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.