TechFlow news, according to Bloomberg, Ant Group plans to withdraw its investment from a $100 million fund, exiting the cryptocurrency sector.
According to sources familiar with the matter, Ant Group is planning to exit its investment in A&T Capital, which was central to Ant's bet on the digital asset space.
It remains unclear whether the venture capital firm will continue operations or attract new investors. As of Monday afternoon, the company's website returned a timeout error to users. An Ant Group spokesperson did not respond to requests for comment.
A&T, founded in April 2021, invested in some of the hottest crypto startups, including digital asset lending firm Matrixport and Ethereum software maker ConsenSys, with Ant Group being A&T’s main investor. Data from PitchBook shows that cryptocurrency venture investments in the second quarter fell to the lowest level since 2020, a decline occurring after last year’s collapse in virtual assets.
