Felix Capital, a London-based VC firm, has raised $600 million in its fourth fundraising spherical, this being its largest but. The firm, which has been investing in commerce and money-tooling startups, is planning to make use of a part of the funds raised to extend its Web3 publicity as a part of its new enterprise technique.
Felix Capital Includes Web3 in Business Plan
Venture capital corporations from everywhere in the world are actually turning their eyes to Web3, a brand new discipline that intertwines the web and crypto. One such agency has been Felix Capital, a London-based VC firm that has expanded its marketing strategy to incorporate Web3 as a part of its present pursuits. With its newest fundraising spherical, the corporate obtained $600 million, surpassing its preliminary objective of $500 million.
For the agency, that is its fourth and largest fundraise so far, bringing its whole property beneath administration to $1.2 billion. In a weblog put up, the corporate defined that these funds shall be used to again one other 20 to 25 firms over the subsequent couple of years, throughout Europe and North America.
About the inclusion of Web3 parts in its subsequent investments, the corporate stated:
We are increasing our areas of curiosity, planning to develop our publicity to Web3, a brand new platform for creativity, group, and naturally entrepreneurship. The urgency to reside a extra sustainable way of life shall be an more and more central theme, in keeping with our mission to associate with founders who need to have a optimistic impression on the world.
Frederick Court, head of Felix Capital, believes that the present market downturn doesn’t have an effect on its operations as a result of the corporate’s investments are “basically a long-term enterprise, and it takes a very long time to construct an awesome firm.”
A Web3 Investment Explosion
Web3 is changing into a recurrent theme for VCs that need to increase their funding focus. Felix Capital is simply one of many corporations that has declared intentions to again firms within the Web3 surroundings, and quite a lot of different corporations have additionally pivoted a part of their investments to this new discipline.
On June 9, Solana Ventures, the funding arm of Solana, announced it could allocate $100 million to help revolutionary Web3-based merchandise and corporations in South Korea. Also, on June 3, Binance Labs reported on the launch of a $500 million fund targeted on firms proposing to increase the features of crypto utilizing blockchain and Web3 tech.
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