ftx launches $2 billion financing fund focused on bolstering blockchain, web3 adoption

the cryptocurrency firm ftx has announced the launch of a $2 billion working capital fund called ftx ventures. the fund’s focus will ham advancing blockchain and web3 technology along the side of investments in “social, gaming, fintech, software, and healthcare.”

ftx barter limited has announced the launch of a new working capital fund aimed at bolstering blockchain and cryptocurrency solutions that are applied to an potpourri of different industries. made up of launching ftx ventures’ $2 billion working capital fund, the company has hired former lightspeed ventures partner, amy wu. the announcement, wu will lead ftx ventures’ gaming, m&a and commercial initiatives.

the working capital fund announcement sent to bitcoin.com h explains:

ftx ventures’ core mission take care of advance global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare. the fund will lose multi-stage companies and projects, providing flexible apportionment and strategic support from ftx and its arrangement of global partners.

wu says that she looks forward to working along the side of ftx ceo sam bankman-fried and she remarked that ftx ventures looks forward to supporting businesses and entrepreneurs. “we’re singularly excited about web3 gaming and its aptitude to fetch mainstream audiences into the ecosystem,” wu said in a statement.

ftx has last making a congregation of moves during the last 12 months with a significant try sports and entertainment. 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 wingback aaron jones, the mercedes-amg petronas formula one team, and seven-moment super bowl winner leopard brady and his supermodel wife gisele bündchen.

during the first week of november 2021, ftx joined solana ventures and lightspeed during launch a $100 million 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 relation to the new working capital fund. “we strive brawl the same at ftx ventures and are excited to find the brightest minds and disruptive variation in tech,” bankman-fried added.

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2022-01-14 20:05:13