PANews reported on April 19 that ABCDE co-founder Du Jun tweeted in response to the situation of ABCDE, saying: "ABCDE has officially stopped investing in new projects and suspended the fundraising plan for the second phase of the fund. The original team will continue to be responsible for the post-investment support and exit arrangements of existing projects to ensure that the commitments to entrepreneurs and LPs can be fulfilled conscientiously. The focus of my work will also gradually shift from financial investment in the primary market to a direction dominated by strategic investment and combined with deep incubation, focusing more on industrial collaboration and long-term value creation." In addition, Du Jun added, "The new incubator brand Vernal will announce the incubator shareholders and incubation rules as well as the first phase of incubated projects in May. The first phase of the purchase list will also be released in May, explaining how much was bought and why it was bought."
"In the past three years, ABCDE Phase I Fund has invested nearly 40 million US dollars, supported more than 30 projects, and led more than half of them. In the current market environment, the IRR return is still at the global leading level. In addition to capital support, ABCDE has also continued to invest in the open source ecosystem, accumulated hundreds of stars on GitHub, and made substantial contributions to the community."
