The cryptocurrency firm FTX has announced the launch of a $2
billion venture capital fund called FTX Ventures. The fund’s focus will
be on advancing blockchain and Web3 technology alongside investments in
“social, gaming, fintech, software, and healthcare.”
FTX Reveals $2 Billion Venture Capital Fund, Hires Lightspeed Partner Amy Wu
FTX Trading Limited has
announced the launch of a new venture capital fund aimed at bolstering
blockchain and cryptocurrency solutions that are applied to an
assortment of different industries. In addition to launching FTX
Ventures’ $2 billion venture capital fund, the company has hired former
Lightspeed Ventures partner, Amy Wu. According to the announcement, Wu
will lead FTX Ventures’ gaming, M&A and commercial initiatives.
The venture capital fund announcement sent to Bitcoin.com News explains:
FTX Ventures’ core mission is to advance global
blockchain and web3 adoption, with a broad investment mandate across
social, gaming, fintech, software, and healthcare. The fund will invest
in multi-stage companies and projects, providing flexible funding and
strategic support from FTX and its network of global partners.
Wu says that she looks forward to working alongside FTX CEO Sam
Bankman-Fried and she remarked that FTX Ventures looks forward to
supporting businesses and entrepreneurs. “We’re particularly excited
about web3 gaming and its ability to bring mainstream audiences into the
ecosystem,” Wu said in a statement.
FTX CEO Sam Bankman-Fried Is ‘Excited to Find Disruptive Innovation’
FTX has been making a great number of moves during the last 12 months
with a significant focus on sports and entertainment. Last year, FTX partnered with Monumental Sports Entertainment (MSE), Sports Illustrated, the Los Angeles Angels’ Shohei Ohtani, the global esports firm TSM, Green Bay Packers running back Aaron Jones, the Mercedes-AMG Petronas Formula One team, and seven-time Super Bowl winner Tom Brady and his supermodel wife Gisele Bündchen.
During the first week of November 2021, FTX joined
Solana Ventures and Lightspeed in order to launch a $100 million
blockchain gaming fund. “Our investors at FTX have made a deep impact in
supporting our growth and development,” Sam Bankman-Fried said on
Friday in regard to the new venture capital fund. “We strive to do the
same at FTX Ventures and are excited to find the brightest minds and
disruptive innovation in tech,” Bankman-Fried added.
source link : https://news.bitcoin.com/ftx-launches-2-billion-venture-capital-fund-focused-on-bolstering-blockchain-web3-adoption/
