Felix Capital, an VC firm based in London, raised $600 Million in its fourth round of fundraising. This was its largest ever. This company has invested in money-tooling and commerce startups. It plans to make use of part of the new funds to expand its Web3 visibility as part its business strategy.
Felix Capital includes Web3 in the Business Plan
All over the globe, venture capital companies are turning their attention to Web3, which is a new area that intertwines crypto and the internet. Felix Capital is a London-based venture capital company. It has now expanded its business plans to include Web3 in its interests. Its latest round of funding saw the company raise $600million, more than its $500 million goal.
The firm’s fourth-largest fundraise has been completed to date. This brings the total amount of its assets under management up to $1.2 billion. This blog post explained how the fund will be used over the next few years to help support 20 to 25 additional companies in Europe and North America.
The company said that Web3 will be included in the next investment.
We plan to expand our area of interests and increase our exposure on Web3, a brand new website for creativity, collaboration, and, of course, entrepreneurship. In line with our mission of partnering with founders that want to make a difference in the world, we will continue to emphasize the need to lead a sustainable life.
Frederick Court, head of Felix Capital, believes that the current market downturn doesn’t affect its operations because the company’s investments are “fundamentally a long-term business, and it takes a long time to build a great company.”
The Web3 Investment Explosion
Web3 is a popular theme for VCs who want to increase their investment focus. Felix Capital is not the only firm to declare its intentions to invest in companies within the Web3 ecosystem. Many others have already shifted some of their investments towards this field.
Solana Ventures announced on June 9 that it will allocate $100 million for South Korean companies and products based on Web3 technology. Binance Labs also reported the launch of $500 million to support companies that are extending the functionality of crypto through blockchain and Web3 technology.
What do you think about Felix Capital’s $600 million Web3 fund? Comment below.
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