Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Old Fashion Research (OFR) is a blockchain-native investment firm founded in late 2021 and publicly launched in May 2022. The firm operates globally, focusing on multiple investment strategies, including early-stage venture capital, secondary markets, mergers and acquisitions (M&A), incubation, and advisory services. OFR is headquartered in Asia and has a diverse LP base, including Wemix, a global gaming platform backed by Wemade, along with angel investors and family offices.
Since its inception, OFR has established itself as a significant player in the crypto and Web3 sectors, leveraging the extensive experience of its founding team, all of whom are alumni of Binance. This background provides OFR with strong access to the crypto ecosystem and enhances its ability to identify and support promising blockchain projects.
As of now, OFR manages a fund size of $100 million and has invested in over 50 companies, demonstrating its commitment to fostering innovation in the blockchain space. The firm’s focus on emerging markets, particularly in Africa and Latin America, highlights its mission to drive crypto adoption in regions with significant growth potential.
Old Fashion Research primarily invests in early-stage teams within the Web3 sector, employing a flexible, thesis-driven approach to identify investment opportunities. The firm targets various stages of investment, including pre-seed, seed, seed-plus, Series A, Series B, Series C, Series D, and growth equity. OFR's investment strategy emphasizes the alignment of timing, product, and team strength to create long-term value.
Geographically, OFR operates on a global scale, with a particular focus on emerging markets in Africa and Latin America. This focus allows the firm to capture value across the full Web3 lifecycle through incubation, venture capital, M&A, and special situations. OFR is particularly interested in fostering crypto adoption in these regions, recognizing the unique opportunities they present for blockchain technology.
In terms of deal structure, OFR is open to various investment formats and actively seeks to engage with innovative projects that align with its investment thesis. The firm values strong founding teams and innovative products that can drive significant impact in the Web3 space.
Old Fashion Research has invested in over 50 blockchain projects since its launch. Notable companies in its portfolio include:
This diverse portfolio reflects OFR's commitment to supporting innovative projects across various sectors within the blockchain space.
Wayne Fu - Founding Managing Partner; previously served as Head of Corporate Development at Binance, where he gained extensive experience in strategic investments and partnerships.
Ling Zhang - Managing Partner; formerly VP of M&A and Investments at Binance, bringing a wealth of knowledge in mergers and acquisitions to OFR.
Jiang Xin - Partner; previously led Binance Labs and Launchpad investments, including notable projects like Axie Infinity and Moonbeam, showcasing expertise in identifying high-potential blockchain projects.
Wei Zhou - Strategic Adviser and Investor; former CFO at Binance, providing financial acumen and strategic insights to the firm.
Old Fashion Research runs a program under its own name, focusing on blockchain investments. This program aims to identify and support early-stage teams within the Web3 sector, providing them with the necessary resources and guidance to succeed.
Eligibility for participation in OFR's program typically includes having a strong founding team and a viable product that addresses a specific market need. Interested startups can apply through networking channels within the crypto community, although specific application processes are not publicly detailed.
In August 2023, Old Fashion Research participated in a $5 million seed round for Xverse, a Bitcoin wallet, co-investing alongside Jump Crypto, RockawayX, and Sfermion. This investment highlights OFR's active engagement in the blockchain space.
Additionally, OFR completed the acquisition of 0N1 Force, an NFT project, demonstrating its willingness to pursue strategic and non-traditional deals within the crypto sector.
As of 2023, OFR continues to explore new investment opportunities and remains active in the blockchain community, focusing on fostering innovation and supporting emerging projects.
What are Old Fashion Research's investment criteria?
OFR primarily invests in early-stage teams within the Web3 sector, focusing on opportunities where timing, product, and team strength align. The firm targets various stages, including pre-seed, seed, and Series A through D.
How can I pitch to Old Fashion Research?
Founders interested in pitching to OFR should prepare a detailed presentation that outlines their business model, market opportunity, and team qualifications. While specific submission channels are not disclosed, networking within the crypto community may enhance chances of engagement.
What makes Old Fashion Research different from other VCs?
OFR's unique advantage lies in its founding team's extensive experience at Binance, providing strong access to the crypto ecosystem and a deep understanding of blockchain technologies. This background enables OFR to offer strategic guidance and operational support to its portfolio companies.
What is Old Fashion Research's geographic focus?
OFR operates globally but places a significant emphasis on emerging markets, particularly in Africa and Latin America, where it aims to foster crypto adoption and support innovative blockchain projects.
What is the typical check size for investments?
While specific check sizes are not publicly detailed, OFR invests across a range of stages, indicating flexibility in funding amounts based on the needs of the startup and the stage of development.
How involved is Old Fashion Research post-investment?
OFR provides operational support and strategic guidance to its portfolio companies, leveraging its network and expertise to help them navigate the challenges of the blockchain space.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.