FTX Launches $2 Billion Venture Capital Fund Focused on Bolstering Blockchain, Web3 Adoption

FTX Launches $2 Billion Venture Capital Fund Focused on Bolstering Blockchain, Web3 Adoption

The cryptocurrency agency FTX has introduced the launch of a $2 billion enterprise capital fund referred to as FTX Ventures. The fund’s focus will probably be on advancing blockchain and Web3 expertise alongside investments in “social, gaming, fintech, software program, and healthcare.”

FTX Reveals $2 Billion Venture Capital Fund, Hires Lightspeed Partner Amy Wu

FTX Trading Limited has introduced the launch of a brand new enterprise capital fund aimed toward bolstering blockchain and cryptocurrency options which can be utilized to an assortment of various industries. In addition to launching FTX Ventures’ $2 billion enterprise capital fund, the corporate has employed former Lightspeed Ventures associate, Amy Wu. According to the announcement, Wu will lead FTX Ventures’ gaming, M&A and business initiatives.

The enterprise capital fund announcement despatched to Bitcoin.com News explains:

FTX Ventures’ core mission is to advance international blockchain and web3 adoption, with a broad funding mandate throughout social, gaming, fintech, software program, and healthcare. The fund will put money into multi-stage corporations and initiatives, offering versatile funding and strategic assist from FTX and its community of world companions.

Wu says that she appears to be like ahead to working alongside FTX CEO Sam Bankman-Fried and she or he remarked that FTX Ventures appears to be like ahead to supporting companies and entrepreneurs. “We’re significantly enthusiastic about web3 gaming and its means to carry mainstream audiences into the ecosystem,” Wu mentioned in a press release.

FTX CEO Sam Bankman-Fried Is ‘Excited to Find Disruptive Innovation’

FTX has been making a large number of strikes over the past 12 months with a big deal with sports activities and leisure. Last yr, FTX partnered with Monumental Sports Entertainment (MSE), Sports Illustrated, the Los Angeles Angels’ Shohei Ohtani, the worldwide esports firm TSM, Green Bay Packers working again Aaron Jones, the Mercedes-AMG Petronas Formula One team, and seven-time Super Bowl winner Tom Brady and his supermodel spouse Gisele Bündchen.

During the primary week of November 2021, FTX joined Solana Ventures and Lightspeed in an effort to launch a $100 million blockchain gaming fund. “Our buyers at FTX have made a deep affect in supporting our progress and improvement,” Sam Bankman-Fried mentioned on Friday in regard to the brand new enterprise capital fund. “We try to do the identical at FTX Ventures and are excited to seek out the brightest minds and disruptive innovation in tech,” Bankman-Fried added.

What do you concentrate on the brand new $2 billion enterprise capital fund referred to as FTX Ventures? Let us know what you concentrate on this topic within the feedback part beneath.

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