Multi-strategy blockchain investment fund Old Fashion Research (OFR) reportedly finalized its first close. The entity made investments in more than 50 blockchain initatives in its first year.

Specifically, per the announcement, Old Fashion Research – led by several ex-Binance executives – reportedly plans to work publicly now – a development from the stealth mode approach it has been adopting since its foundation in late last year. 

Since that time, OFR reportedly offered financial support via the form of investment in over 50 firms throughout different markets, nominally WOO Network, Genopets, Metaverse Magna, MetaDerby and ZetaChain.

The fund was established by Ling Zhang, the former vice president of mergers and acquisitions, and investments at Binance, along with Wayne Fu, former Binance head of corporate development. 

Jiang Xin “JX” who led Binance Labs’ and Launchpad’s major investment deals, is reportedly taking the head role at OFR’s venture division.

We are keen to seek founders who share the same long-term vision and passion for the crypto industry, and we are determined to grow with them together.” Zhang further claimed. 

OFR reportedly secured fundings from a variety of top-tier limited partners from inside and outside of the crypto sphere. The lead investor is gaming platform Wemix, supported by the listed top-tier gaming firm Wemade. 

Other notable backers include the family office of Gang Wang, JUE Capital, who was the founding investor at DiDi and crypto wallet SafePal.

On May 25, venture capital heavyweight a16z reportedly disclosed details regarding the closing its fourth cryptocurrency fund at $4.5 billion. The news surfaced only under a year since Andreessen Horowitz revealing the release of its $2.2 billion Crypto Fund III.