XUNLEI Limited To Establish A Fund Worth $ 100 Million In Blockchain

XUNLEI Limited To Establish A Fund Worth $ 100 Million In Blockchain

Blockchain News
October 31, 2019 Editor's Desk
10360
Xunlei Limited, which is considered to be among the forefront of innovators in shared cloud computing and blockchain technology, informed on the 30th of October that it is planning to establish an independent private equity fund to invest in blockchain technology. It has hopes of raising US$100 Million for this fund, which will primarily invest
Xunlei Limited

Xunlei Limited, which is considered to be among the forefront of innovators in shared cloud computing and blockchain technology, informed on the 30th of October that it is planning to establish an independent private equity fund to invest in blockchain technology.

It has hopes of raising US$100 Million for this fund, which will primarily invest in areas of innovative blockchain technology, blockchain business models, and digital assets. But it wishes not just to limit the spending in these areas. This fund is said to operate outside of China, separate from Xunlei’s Chinese administering entities.

The preparation and operations are still in the initial stages, so further details regarding this fund will be shared once they get an explicit confirmation.

Xunlei Limited was integrated under the law of the Cayman Islands as a limited liability company and operated its Chinese business through consolidated VIE companies, including Shenzhen Xunlei Networking Technologies, Co., Ltd. The Company offers a lot of products and services across cloud acceleration, blockchain, shared cloud computing, and digital entertainment to ensure that the users have the most secure, smartest, and most efficient internet experience.

Xunlei operates ThunderChain, a high-performance blockchain platform, which can simultaneously conduct up to one million transactions per second (TPS). ThunderChain is considered to be named among the top blockchain technologies and possesses some of the advanced industry-leading features.

The firm has submitted 95 applications for blockchain patents and thereby has rightly become the most productive companies in the industry. To date, ThunderChain has reportedly applied to over a dozen industries.

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