Ant Group, a Jack Ma-founded affiliate company of Chinese tech giant Alibaba (NASDAQ: BABA), is withdrawing its investment from crypto-focused A&T Capital.
A&T Capital was formed in 2021 with the majority of backing, roughly $100 million, from Ant Group.
The company’s focus was to invest in budding crypto startups, like it did in digital-asset lender Matrixport and Ethereum software developer ConsenSys.
With the latest resignation of founding partner, Yu Jun, who also served as Ant Group executive, A&T Capital’s scenario reflects uncertainty regarding the company’s future. Also, there is no clarity ...