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FTX Launched $2B Fund To Support Web3 Startups

www.cryptovibes.com 17 January 2022 09:10, UTC
Reading time: ~2 m

FTX crypto exchange confirmed that it has launched a $2 billion venture capital fund. According to official reports, this fund is expected to invest in companies that are pushing blockchain and Web3 adoption in different areas including financial technology (Fintech, social, software, gaming, and healthcare.

The crypto exchange has already hired Amy Wu from Lightspeed Venture Partners to help in leading the operations of the fund. Amy Wu will also head the gaming, M&A, and commercial initiatives for the capital fund.

According to official statements, the fund was set up to invest in multi-stage firms and projects, offering flexible funding and strategic support to the teams that decide to build in the digital asset ecosystem. Wu stated:

“With FTX Ventures, we are looking to support entrepreneurs building generational businesses. We’re particularly excited about web3 gaming and its ability to bring mainstream audiences into the ecosystem.”

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