He said the fund paid an initial $500,000 on Feb. 26, 2024, with a further $1 million tied to project progress under what he described as normal fund practice.
Du Jun said ABCDE Capital’s investment in Metagent was made under a staged funding arrangement rather than as a single full payment. Responding to Li Bojie’s claim that the investment money had not been fully received, Du Jun said ABCDE Capital paid Metagent an initial $500,000 on Feb. 26, 2024, and that both sides had agreed the fund would first transfer $500,000 before arranging a further $1 million based on project progress. He described that installment structure as a normal way for a fund to operate.