In the industrial Park Hangzhou started Xiong’An Global Blockchain Innovation Fund, specializing in investments in innovative blockchain startups, according to CoinDesk.

The Fund founded by the venture capital company Tunlan Investment, and the size of its capital is $1.6 billion, of which $400 investment from the local Treasury. Adviser of the Fund is Xu Xiaoping — the founder of Zhenfund venture company, previously invested in blockchain projects Stream and Lino. The Fund Manager selected well-known Chinese captainvalor Whether Saali.

Also, the industrial Park of Hangzhou will be launched incubator blockchain-related startups.

Hangzhou is famous for supporting innovative companies. In particular, it was here in 1999 was founded the Internet giant Alibaba Group.

We will remind, in February, Chinese e-Commerce platform launched accelerator for blockchain-related startups.