HomeCrypto NewsExchangesFTX of billionaire 'Sam Curly' launches investment fund 2...

FTX of billionaire 'Sam Curly' launches a $2 billion investment fund in Web3

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FTX of billionaire 'Sam Curly' launches a 2 billion USD investment fund in Web3

FTX, the exchange of billionaire Sam Bankman-Fried, recently launched a $2 billion venture capital fund, which will be led by Lightspeed executives.

Specifically, in a press release, FTX said that its venture capital fund FTX Ventures planned to invest in “Web3 and promote adoption blockchain globally”.

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In addition, the mission of FTX Ventures this year is to "Invest broadly in the fields of social, gaming, fintech, software and healthcare".

FTX representative said that up to now, they have raised 2 billion USD for FTX Ventures and the fund will be managed by Amy Wu (Lightspeed CEO).

In an interview on The Block, Wu said that the fund will also support startups in the crypto market.

“FTX Ventures is not necessarily tied to FTX's strategy. The goal of the fund is to accelerate the adoption of blockchain technology and leverage FTX's resources, expertise, and global network to support crypto startups.” Wu said.

2021 is an exciting year for venture capital investment in the crypto industry. There were over 1.700 crypto-focused venture capital deals that took place in 2021, bringing startups, projects, and protocols around $25,1 billion.

Several venture funds – including Paradigm and a16z – also launched billions of dollars worth of funds last year for crypto projects.

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