<article>Chinese conglomerate Huiyin Group has announced the launch of <a style="color: #000080;" href="http://venture.huiyin.com/" target="_blank">Huiyin Blockchain Ventures</a> (HBV), a subsidiary fund focused on investments in the <a style="color: #000080;" href="http://dealstreetasia.com/tag/blockchain" target="_blank">blockchain</a> sector.</article>

Chinese conglomerate Huiyin Group has announced the launch of <a style="color: #000080;" href="http://venture.huiyin.com/" target="_blank">Huiyin Blockchain Ventures</a> (HBV), a subsidiary fund focused on investments in the <a style="color: #000080;" href="http://dealstreetasia.com/tag/blockchain" target="_blank">blockchain</a> sector.
Launching with $20 million in committed capital, HBV is in the process of deploying the funds over the next six to 12 months. The fund is managed by James Wo, the son of Huiyin Group&#8217;s founder.
Huiyin Group is traditionally focusessed on real estate, energy and agriculture.
It manages diversified investments in commerce, energy, medicine, agriculture, tourism, electronics, chemicals, commerce and food and beverages and reportedly has more than 20 subsidiaries, with assets in excess of $2 billion.
The investment thesis of the fund is focused on improving the blockchain ecosystem. The move will see it target investments in infrastructure projects and new use cases for blockchain, a distributed and encrypted digital ledger modelled in part on BitTorrent.
However, a Coindesk report suggests the firm is not likely to make investments in enterprise or other alternative blockchain projects, with Wo saying in an official statement: &#8220;We are seeking to invest into bitcoin-related companies to help enrich the industry, as we see a large opportunity for a return on our investment. As the bitcoin industry continually matures, the use of bitcoin will continue to grow and proliferate in China, as well as the rest of the world. HBV intends to be at the forefront of this technology as it continues to gain traction globally.&#8221;
The fund will be maintaining a focus on projects building or supporting the bitcoin blockchain, which to date remains the most publicly visible element of the blockchain ecosystem and the most liquid market. As at 2 december 2016, it maintains a market capitalisation of $12.4 billion.
In a statement on its website, the venture fund says it provides  &#8220;&#8230;strategic investment to bring pioneering blockchain technology ideas to life and to scale in a number of areas, including infrastructure, exchange, payment, remittance or use cases.&#8221;
it has already invested in Indian bitcoin brokerage <a style="color: #000080;" href="https://www.unocoin.com/" target="_blank">Unocoin</a>, content monetisation platform <a style="color: #000080;" href="https://www.yours.network/" target="_blank">Yours</a> and bitcoin-powered e-commerce marketplace <a style="color: #000080;" href="https://purse.io/" target="_blank">Purse.io</a>. The CEO of Purse, Andrew Lee, is serving as an advisor to the fund.
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Huiyin Group has launched a $20M blockchain investment fund called Huiyin Blockchain Ventures.

China: Huiyin Group launches $20m blockchain investment fund

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China: Huiyin Group launches $20m blockchain investment fund

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