{"id":62453,"date":"2023-09-18T09:51:56","date_gmt":"2023-09-18T13:51:56","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/ant-group-reportedly-plans-withdrawal-from-100-million-crypto-venture-at-capital\/"},"modified":"2023-09-18T09:51:59","modified_gmt":"2023-09-18T13:51:59","slug":"ant-group-reportedly-plans-withdrawal-from-100-million-crypto-venture-at-capital","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=62453","title":{"rendered":"Ant Group Reportedly Plans Withdrawal from $100 Million Crypto Venture A&T Capital"},"content":{"rendered":"
\n

The Chinese fintech giant Ant Group is in the process of withdrawing its investment from the $100 million A&T Capital fund that was set up to invest in offshore crypto projects, Bloomberg reported today.<\/p>\n

A&T played a central role in Ant Group’s foray into crypto space.<\/p>\n

A&T Capital has invested in several crypto startups, including digital-asset lender Matrixport and Ethereum software maker ConsenSys.<\/p>\n

A&T Founding Partner Yu Jun Resigns<\/h2>\n

The decision to withdraw from A&T Capital follows a series of developments within the venture.\u00a0<\/p>\n

In particular, it comes in the wake of the resignation of A&T’s founding partner, Yu Jun, who was formerly an executive at Ant Group.\u00a0<\/p>\n

The departure of Yu Jun coincided with an investigation into his conduct in the workplace as several women had accused the former head of OKX Investment of sexual harassment<\/a>, including his employees at A&T Capital.<\/p>\n

A&T Capital, which was established in April 2021 with the backing of Ant Group, was specifically designed to invest in offshore cryptocurrency projects.\u00a0<\/p>\n

Over its brief existence, it has made investments in some of the most prominent startups in the crypto space.\u00a0<\/p>\n

A&T Capital\u2019s Future Remains Uncertain<\/h2>\n

The fate of A&T Capital remains uncertain as Ant Group moves to withdraw its investment.\u00a0<\/p>\n

There are no clear indications as to whether the venture firm will continue to operate independently or if it will seek new investors. As of the time of reporting, the A&T Capital website was inaccessible, displaying a timed-out error to users.<\/p>\n

Official statements from both Ant Group and Yu Jun have not been provided, as they have not responded to requests for comment on this matter. Similarly, a representative for A&T Capital has not offered any comments on the situation.<\/p>\n

The decision to exit the crypto venture comes at a time when the cryptocurrency industry is experiencing fluctuations and challenges.\u00a0<\/p>\n

Crypto venture funding saw a decline in the second quarter of the year, according to data from PitchBook.\u00a0<\/p>\n

This dip follows the virtual asset market turmoil of the previous year and occurs amidst a surge of interest in artificial intelligence technology.<\/p>\n<\/p><\/div>\n