New World Development CEO Adrian Cheng Invests In ConsenSys, Hex Trust In Web3 Play

New World Development CEO Adrian Cheng has entered Web3 with a personal investment in Hex Trust’s series B round and an investment in ConsenSys’ series D financing via his C Ventures.

Hex Trust is an Asian digital asset custodian fully licensed in Hong Kong and Singapore with over 200 institutional clients and over US$5 billion in assets under custody. Cheng’s investment is part of the company’s series B funding round of US$88 million, which was co-led by Animoca Brands and Liberty City Ventures. Other participants in the
round included Ripple, Terra, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, Eterna Capital, Sino Global Capital, and Topaz.

ConsenSys is an Ethereum and decentralized protocols software company. Cheng joined its US$450M Series D funding with the company’s valuation standing at US$7 billion led by ParaFi Capital. Other investors in the round include Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, Third Point, Marshall Wace, True Capital Management, and UTA VC, United Talent Agency’s venture fund.

C Ventures is a venture capital company founded by Adrian Cheng targeting Millennials and Generation Z, with a focus on disruptive businesses in the technology and consumer sectors. The firm has previously invested in Nothing, Casetify, Animoca Brands, RTFKT Studios (acquired by Nike), Matrixport, Sensetime and XPeng.

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