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HSN and Gloriosa Capital Met with Billion Dollar Grandshore Global Blockchain Innovation Fund

HSN Co-founder and COO Peter Jia and Founder of Gloriosa Capital and HSN angel investor Monitor Chan visited Grandshore Global Blockchain Innovation Fund.

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Grandshore Fund scales up to 10 billion Yuan (USD1,4 bn) and was initiated by Yao Yongjie, founder of Hangzhou Capital, famous bitcoin billionaire and founder of Coin Capital Li Xiaolai, and Yu Wenzhuo (a.k.a. “the old cat”). Xu Xiaoping, the founder of Zhenge Fund, serves as the fund consultant. In addition, Hangzhou Municipal Government provides funding of 3 billion Yuan, accounting for 30% of the total fund.

Grandshore Capital aims to actively promote emerging technologies such as blockchain , artificial intelligence, Internet of Things, virtual reality and cloud computing. It focuses on bringing together industry elites around the world, cultivating industry leaders, actively participating in the formulation of relevant industry standards, while people-oriented, discover talents, and strengthen talents.

On June 29th, 2019, HSN reached a strategic cooperation with and multi-million dollar investment from BAF Capital, which belongs to the Grandshore Fund. It was the first project invested by BAF Capital since its establishment.

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The meeting was hosted by Ms. Yu Zhuochen of TunLan Investment. She introduced various successful funds under their management, including XiongAn Fund, Zhongxing XinXing Industry Fund and Everbright Emerging Industry Fund. These fund are all focused on investments in emerging industries such as blockchain, artificial intelligence, TMT, new energy and new materials.

HSN team also visited the China (Hangzhou) Blockchain Industrial Park and the Grandshore Blockchain Research Institute. The Blockchain Park in Hangzhou was launched in 2018 and is part of China’s 13th five-year plan. Hangzhou TunLan Investment Management Co., Ltd. is a rapidly rising equity investment institution with more than 30 billion Yuan of Assets Under Management. In 2017 it selected as most trusted financial institution by Zhejiang Commerce.

Hangzhou has become one of the fastest growing cities in China, with a large number of outstanding entrepreneurial projects, most notably ecommerce giant Alibaba. The Hangzhou Government had also included Blockchain into 2018’s government work report. As infrastructure, Hangzhou has formed the Xixigu blockchain industrial park in Xihu District, the Wanxiang Innovation Energy City in Xiaoshan District and the Hangzhou Chain Block Industrial Park in Yuhang District.

TunLan Capital and Gloriosa Capital intend on a near cooperation investment.

After the meeting, TunLan Capital and Gloriosa Capital reached a strategic cooperation and investment intention. Both parties agreed on the establishment of a strategic investment funds and to jointly look for opportunities in blockchain, smart manufacturing, healthcare and new agriculture. The next round of unicorn companies are expected to accelerate the development of global blockchain and artificial intelligence, Internet of Things, virtual reality, cloud computing and other emerging technologies.



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