Cathay Innovation looks to secure itself in a new investment partnership with a company that secures crypto assets.

The $1.5 billion venture capital company is entering the crypto market with a new $110 million fund dedicated to the sector, which it will co-manage with Ledger, a French digital asset security startup, Cathay co-founder Dennis told TechCrunch. Barrier.

The fund is similar to a corporate venture capital firm in that it is partly company-led, but Ledger differs from a typical corporate venture capital because it is a Series C startup rather than a large conglomerate looking to bet on nascent firms. Ledger Cathay Capital, as the new fund is called, will invest in seed funds of Series A companies in a wide variety of segments of the cryptocurrency landscape, including emerging DeFi, security, and infrastructure, Barrier said.