TechFlow news — On March 4, BlueFocus Communication Group, a listed company on China's A-share market, announced that its subsidiary, BlueFocus Investment USA, plans to invest up to USD 35 million of its own funds to acquire limited partnership interests in Andreessen Horowitz's (abbreviated as "a16z") newly launched Blockchain Seed Fund I (CNK Seed Fund I) and Blockchain Fund IV (CNK IV).
According to the announcement, the fund adopts a management fee structure of 2.5% per annum, decreasing by 0.25% annually between years 8 and 10. The performance fee (Carry Interest) is set at 25% for net investment returns between 1x and 2x, and 30% for returns exceeding 2x. The target investment areas include blockchain underlying technologies, smart contracts, vertical blockchain technologies, and other supporting blockchain infrastructure. The announcement stated that this co-investment with a professional investment institution would help BlueFocus deepen its understanding of global blockchain technology development, enhance synergies with its metaverse-related business, improve capital efficiency, strengthen access to and allocation of high-quality resources, and achieve potential investment returns.
