With each passing day, more blockchain and crypto-related enterprises are starting to realize about the vast potential that investing in the technology can have. The number of dollars (and other currencies) invested in blockchain startups continues growing, and it will not stop increasing anytime soon.
Such is the case of South Korean fintech company Dunamu. It is known around the industry for being the operator of Upbit, as well for managing the Kakao Stock trading app, which is one of the nation’s most famous crypto exchanges. Dunamu is releasing the news after the announcement about its investment around $46 million dollars (most precisely, 55 billion won) last year to support 26 blockchain startups.
A Three-Year Investment Plan
The firm stated this week that the contributions were performed through its primary subsidiary, Dunamu & Partners, which is actually a little over a year old. When it saw daylight, Dunamu announced its intentions of making a three-year investment plan to reach over 100 billion won (around $84 million) in the up-and-coming industry.
Dunamu has been identifying firms that focus on developing core blockchain solutions, and those are the ones in which it has been investing into. However, it has also been contributing financially with businesses related to games and fintech.
Some of the Lucky Companies
Some of the firms that have seen investments from the South Korean giants are Terra (a payments network tied to a stablecoin,) Rainist (a fintech company,) Dalcom Soft (a gaming software,) Honest Fund (a peer to peer lending environment,) Tide Square (an Internet-based travel agency,) and Finhaven (a blockchain-based investment service.)
The South Korean fintech firm’s subsidiary, per its CEO Ryan Lee, plans on keeping the investments coming for the foreseeable future. The executive stated that there will be no shortage of options to invest, and that the companies’ size, stage, and region will not matter.
“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,” Lee observed whilst making the announcement.
“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,” said Lee.
Promoting Mainstream Blockchain Adoption Worldwide
The company is said to be prioritizing companies that can help drive the mainstream adoption of blockchain-related products and services, as well as mobile fintech offerings.
Additionally, personal branding business opportunities, in the form of individual content producers, also tend to receive attention from Dunamu, as evidenced by the $3 million seed round for Band Protocol, a startup that promotes the actions of reliable content producers with their own token and ecosystem.
Dunamu is the parent company of Upbit, the only South Korean cryptocurrency exchange of the country’s “big 4” (along with Bithumb, Coinone and Korbit) that did not report losses in the volatile 2018.
By Andres Chavez