Leading crypto derivatives exchange, FTX, has revealed a $2 billion venture capital fund aimed at crypto and fintech startups.
In a blog post, the $25 billion company said the fund would primarily focus on:
- Games
- Social
- Software
- fintech
- Health care
- Sometimes outside of crypto
The venture capital fund will be led by Amy Wu, a former partner at $10 billion investment firm, Lightspeed Ventures, where she led crypto and gaming investments, including fund investing. in FTX.
“With FTX Ventures, we seek to support entrepreneurs building generational businesses. We are particularly excited about the Web3 game and its ability to attract mainstream audiences to the ecosystem..”
–Amy Wu
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SEE ALSO: FTX Closes $900M Funding – Biggest Raise in Crypto Exchange History
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As money flooded the crypto industry in 2021, FTX made headlines for raising the largest amount in a funding round, when it raised $900 million in a series B cycle in July 2021.
“Our investors at FTX have had a profound impact supporting our growth and development. We strive to do the same at FTX Ventures and are thrilled to find the brightest minds and disruptive innovation in technology.
– Sam Bankman-Fried, CEO, FTX
In November 2021, FTX led a $150 million Series C round in Chipper Cash, an African fintech, as they pursue the vision of making money transfer as easy as a text message and accelerating the adoption of cryptography on the African continent.
Africa is full of crypto and fintech startups.
In 2021, a report produced by Chainalysis indicated that crypto adoption in Africa grew by more than 1,000% with peer-to-peer transaction volume totaling $105 billion, according to .
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