Chinese Construction Firm Keda Joins JRR For $4.5M Investment In Blockchain Projects

Shanghai-listed construction engineering company Keda Group Co.,Ltd. announced that its blockchain fund has invested in a total of four projects worth of RMB29 million (US$4.5 million), according to its security filing.

The biggest investment went to Crypto Future, a Beijing-based blockchain consulting company that helps blockchain projects to raise funds. Keda invested RMB12 million in the firm.

Keda also invested RMB10 million, RMB3 million and RMB4 million in blockchain data and information provider TokenGazer, blockchain media firm and blockchain consulting firm Shanghai Ganqu Network Technology respectively.

In March of this year, Keda Group launched a RMB60 million (US$9.35 million) blockchain industry fund with the Shanghai unit of Switzerland’s JRR Capital Consultants. Keda and JRR each invested RMB50 million and RMB10 million, taking 83.33% and 16.67% stakes of the fund.

The fund invests in projects including blockchain data and information services, blockchain consulting and development, blockchain media and others.

Based in Switzerland, JRR Capital makes investments in entrepreneurs who are fostering innovation in the Blockchain technology and related fields. RuiDing Jurong, as Chinese fund management company of JRR Capital, will serve as fund manager in the Keda Blockchain Industry Fund.

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Yimian Wu is a staff researcher at China Money Network.