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Du Jun Reveals Investment Details in Metagent, Claims Team Failed to Provide Complete Financial and Operational Information
Odaily, Odaily Planet Daily - ABCDE Capital co-founder Du Jun further disclosed investment details in a post on X platform, stating that in February 2024, an initial investment of $500,000 was paid to Metagent, founded by Li Bojie. The subsequent $1 million investment would be contingent upon project progress and conditions stipulated in the agreement. Du Jun noted that the Demo presented by the Metagent team in June 2024 fell short of expectations. Combined with the project's progress, communication status, and feedback from other investment institutions, concerns arose regarding the team's execution capabilities. He also stated that starting from July 2024, Li Bojie largely ceased responding to investor communications. In December of the same year, he indicated via email that he had left Metagent and that the company was underfunded. However, Du Jun claimed the team never provided complete financial statements and operational information to the investors.
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"Huawei Genius Youth" Li Bojie Responds to ABCDE Capital Investment Dispute: Investment Funds Not Fully Received, Resigned Due to Family Reasons
In response to public accusations by Du Jun, Co-founder of Huobi and ChainUP and Founder of Vernal Capital, Metagent Co-founder and former CTO Li Bojie (@bojie_li) issued a response. Li Bojie stated that ABCDE Capital committed to investing $1.5 million in the investment agreement, but actually only $500,000 was received, with the remaining $1 million never arriving, yet the company's cap table continued to record their equity based on the $1.5 million share. Affected by this, he and the co-founders voluntarily reduced their salaries, and the company's recruitment and R&D also fell into difficulties. In October 2024, Li Bojie officially resigned with board approval, citing personal family reasons preventing him from leaving mainland China and compliance risks existing in Web3 projects. He stated that during his tenure, he always fulfilled the responsibility of disclosing the cap table and business status on schedule, and after resignation, he also complied with non-compete clauses, voluntarily avoiding startup projects in fields such as Web3, AI infra, and image generation. Previously, Du Jun publicly posted stating that Li Bojie is the "founder with the least contractual spirit" he has ever cooperated with, accusing him of refusing to fulfill basic obligations agreed in the investment agreement, including refusing to synchronize business progress and financial status with investors, and subsequently losing contact.
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Du Jun: Li Bojie, Founder of Metagent, Refuses to Fulfill Investment Agreement and Goes Missing
Du Jun, co-founder of ABCDE Capital, publicly stated that Li Bojie, founder of Metagent, is "the founder with the least sense of contract" he has ever worked with.Du Jun said that Li Bojie founded Metagent in 2024 and secured investment from ABCDE Capital, but subsequently refused to fulfill the basic obligations stipulated in the investment agreement, including keeping investors informed of business progress and financial status, and then even went completely missing. Du Jun stated that while venture capital can accept project failures, it cannot tolerate fraudulent behavior such as founders "absconding" with the investment funds.
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