Cryptocurrency firm FTX has announced the launch of FTX Ventures, a $2 billion venture capital fund. The fund’s focus will be on advancing blockchain and Web3 technologies and investments in “social, gaming, fintech, software and healthcare.”
FTX discloses $2 billion venture capital fund, hires Lightspeed partner Amy Wu
FTX Trading Co., Ltd. Announcing the launch of a new venture capital fund aimed at supporting blockchain and cryptocurrency solutions for a variety of different industries. In addition to launching FTX Ventures’ $2 billion venture capital fund, the company has hired Amy Wu, a former partner at Lightspeed Ventures. According to the announcement, Wu will lead FTX Ventures’ gaming, M&A and business initiatives.
A venture capital fund announcement sent to Bitcoin.com News explained:
FTX Ventures’ core mission is to drive global blockchain and web3 adoption and has 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 global network of partners.
Wu said she was looking forward to working with FTX CEO Sam Bankman-Fried, adding that FTX Ventures looks forward to supporting businesses and entrepreneurs. “We are particularly excited about web3 games and their ability to bring mainstream audiences into the ecosystem,” Wu said in a statement.
FTX CEO Sam Bankman-Fried is excited about discovering disruptive innovations
Over the past 12 months, FTX has made a number of moves with a focus on sports and entertainment. Last year, FTX cooperating with Memorial Sports and Entertainment (MSE), Sports Illustrated, Los Angeles Angels Otani Shohei, global TSM Sports, the Green Bay Packers running back Aaron Jones, This Mercedes-AMG Petronas Formula 1 Teamand seven-time Super Bowl champion Tom Brady and his supermodel wife Gisele Bundchen.
In the first week of November 2021, FTX join in Solana Ventures and Lightspeed co-launch a $100 million blockchain gaming fund. “Our investors in FTX have had a profound impact on supporting our growth and development,” Sam Bankman-Fried said Friday of the new venture capital fund. “We strive to do the same at FTX Ventures and are excited to find the brightest minds and disruptive innovations in the technology space,” Bankman-Fried added.
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