Parent company of South Korean crypto exchange Upbit has invested almost $50 million in Blockchain startups since March 2018

The parent company of South Korean cryptocurrency exchange Upbit has invested almost $50 million in blockchain startups since March 2018, English-language Korean business news outlet The Investor reported on May 15.

Dunamu, which created a dedicated investment subsidiary, Dunamu & Partners, at the same time last year, has given cash to a total of 26 businesses.

In total — under plans it announced previously — the company aims to invest 100 billion won ($84 million) into the industry.

“Our goal is to contribute to the healthy growth of the blockchain ecosystem by actively investing in startups with world-class technology and services with potential for real-life implementation,” The Investor quotes Ryan Lee, CEO of Dunamu & Partners, as saying. He continues:

“Dunamu and Dunamu & Partners’ strategy of identifying and investing in innovative tech and finance startups, regardless of size, stage and region will continue in 2019.”

Also read: Crypto trading platform Liquid has established a joint venture with Virtual Currency Partners in order to enter the U.S. market

Source: https://cointelegraph.com/news/upbit-exchange-operator-plies-46-million-into-blockchain-in-first-year-of-investment