FTX Ventures, a venture capital fund worth $2 billion has been launched by cryptocurrency company FTX. 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 announces the creation of a new venture fund that will support cryptocurrency and blockchain solutions. The funds are intended to be applied in a range of 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.
Bitcoin.com News was notified about the venture capital fund.
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 be flexible in funding as well as strategic support by FTX, its global network partners and other investors.
Wu stated that she is looking forward to working with FTX CEO Sam BankmanFried. She also noted that FTX Ventures welcomes entrepreneurs and businesses. “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 made a lot of changes in the past 12 months, with a strong focus on entertainment and sports. 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.
FTX joined Solana Ventures, Lightspeed and Lightspeed during the first week in November 2021 to create a $100m 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.
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