Sora Ventures, an Asian venture capital firm, has said that it is relocating its operations to Taipei in Taiwan in favour of “a highly crypto-friendly atmosphere.” Previously, Sora Ventures had offices in Hong Kong and other parts of Asia.
But Sora is not at all pessimistic about the Chinese cryptocurrency market. The managing partner of Sora Ventures, Jason Fang, recently indicated on CryptoSlate’s SlateCast that the Chinese crypto industry would “eventually open up… when that happens, we want to be prepared for it.”
Sora Enterprises Its continued aim “to build on activities for a prospective Fund 2” includes moving to Taipei. The company has a history of making wise financial choices in relation to investments, risk management, and market timing.
It was one of the first venture capital firms in Asia devoted to digital assets and blockchain technology. However, as an early investor in 50 other web3-related companies, including Immutable, Origin Protocol, and Casper Labs, it made the decision to sell off the majority of its holdings in late 2021.
It has now “held USD for more than a year now, making very conservative investments on entrepreneurs [Fang] personally knew and had a great track record in the business.”
Fang provided insight into the Taiwan relocation in a conversation with CryptoSlate. As one of the “leanest blockchain funds in Asia to adopt a hybrid approach adapted to the Web3 environment,” Sora now oversees approximately $70M in assets. Fang declared:
“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.”
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