FTX Launches $2 Billion Venture Capital Fund Focused on Bolstering Blockchain, Web3 Adoption – Finance Bitcoin News

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 likely be on advancing blockchain and Web3 expertise alongside investments in “social, gaming, fintech, software program, and healthcare.”

FTX Reveals $2 Billion Enterprise Capital Fund, Hires Lightspeed Companion 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. Along with launching FTX Ventures’ $2 billion enterprise capital fund, the corporate has employed former Lightspeed Ventures companion, Amy Wu. Based on the announcement, Wu will lead FTX Ventures’ gaming, M&A and business initiatives.

The enterprise capital fund announcement despatched to Information 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 tasks, offering versatile funding and strategic help from FTX and its community of world companions.

Wu says that she seems ahead to working alongside FTX CEO Sam Bankman-Fried and she or he remarked that FTX Ventures seems ahead to supporting companies and entrepreneurs. “We’re notably enthusiastic about web3 gaming and its potential to carry mainstream audiences into the ecosystem,” Wu stated in an announcement.

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

FTX has been making a large number of strikes over the past 12 months with a major concentrate on sports activities and leisure. Final yr, FTX partnered with Monumental Sports activities Leisure (MSE), Sports activities Illustrated, the Los Angeles Angels’ Shohei Ohtani, the worldwide esports agency TSM, Inexperienced Bay Packers operating again Aaron Jones, the Mercedes-AMG Petronas System One group, and seven-time Tremendous Bowl winner Tom Brady and his supermodel spouse Gisele Bündchen.

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Throughout the first week of November 2021, FTX joined Solana Ventures and Lightspeed with the intention to launch a $100 million blockchain gaming fund. “Our traders at FTX have made a deep influence in supporting our progress and improvement,” Sam Bankman-Fried stated on Friday in regard to the brand new enterprise capital fund. “We try to do the identical at FTX Ventures and are excited to search out the brightest minds and disruptive innovation in tech,” Bankman-Fried added.

Tags on this story
$2 Billion, Amy Wu, Blockchain, Blockchain enterprise fund, Crypto, crypto enterprise fund, Finance, Financing, Fintech, ftx, FTX Buying and selling Restricted, FTX Ventures, fund, Funding, Gaming, Healthcare, Lightspeed Ventures companion, Sam Bankman-Fried, Social, Software program, Startups, Enterprise Capital Fund, enterprise fund, Web3

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Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Information in regards to the disruptive protocols rising at the moment.

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