Digital Assets: A $200M Fund From Crypto.com To Support Crypto Startups
The new venture fund is named Crypto.com Capital.
Crypto.com launched today a $200 million fund for investing in crypto startups at seed and series A stages. The venture arm, Crypto.com Capital, will lead seed rounds with cheque sizes between $100k and $3m and Series A rounds from $3m to $10m. (CoinDesk)
Headquartered in Hong Kong, Crypto.com is a cryptocurrency exchange. It published recently a report that highlighted the rapid growth of the cryptocurrency market since 2021. It said that global adoption of digital assets was led by the sharp rally in the price of bitcoin, the DeFi sector, institutional interest, and the more than 106 million crypto users globally.
In early March, Crypto.com became a sponsor of the Aston Martin Formula 1 racing team.
Kris Marszalek, co-founder and CEO of Crypto.com said: “Crypto.com Capital gives founders building in the crypto industry two things: a reputable lead investor for their seed or series A rounds AND priority of launch on the world’s fastest-growing retail crypto platform with over 10 million users.”
“We’re looking for long-term partnerships with entrepreneurs in every sector of the cryptocurrency industry, so we can advance it together,” he added.
Meanwhile, Bobby Bao, co-founder of Crypto.com said that crypto entrepreneurs could count on the company to “move fast and provide both capital and access to a global user base, helping them succeed.”
Kraken’s venture fund
Last month, cryptocurrency exchange Kraken too launched a venture fund to invest in early-stage crypto and fintech startups.
The autonomous fund will invest between $250,000 and $3 million in firms working in fintech, crypto protocols, and decentralized finance, as well as enabling technologies such as AI, machine and deep learning, and cybersecurity.
Latest Alternative Investment News
In a unique plug for bitcoin’s adoption, MicroStrategy (NASDAQ: MSTR), the business information firm, has decided to pay its non-employee directors in bitcoin. The company has been a trendsetter, setting…
Alternative Investments/Digital: Yet Another Bitcoin ETF Application; Galaxy Digital Is The Latest Hopeful
Galaxy Digital, the cryptocurrency investment firm led by Mike Novogratz, has filed an application with the SEC to launch a bitcoin ETF that will trade on the NYSE Arca. The…
Microsoft (NASDAQ: MSFT) may buy Nuance Communication (NASDAQ: NUAN) at a valuation of $56 per share, according to Bloomberg, which cited unnamed people who were familiar with the matter. The…
Venture Capital: Supervest, A Platform That Matches Loan-Seeking Merchants With Investors, Is Seeking Funds
Supervest calls it a new asset class. Merchant cash advances (MCA) are a form of short-term financing for merchants in the form of a sales agreement in which capital is…