The FTX platform has just unveiled its new venture capital unit, FTX Ventures. Led by Amy Wu and with a starting capital of 2 billion dollars, this fund will invest in blockchain startups and more particularly in games and consumer applications of Web 3.0.
2 billion dollars to establish itself in the industry
The FTX platform and its CEO Sam Bankman-Fried are known for large scale operations. Latest initiative: FTX Ventures . This new FTX investment fund will begin operations with no less than $2 billion .
FTX Ventures will be led by Amy Wu , a former partner at $10 billion venture capital firm Lightspeed .
It was Amy Wu who revealed the existence of FTX Ventures on Twitter:
In an interview with our colleagues from The Block, Amy Wu said that FTX Ventures will focus its investments in Web 3.0 games and applications .
It also discusses blockchain infrastructures (layer 1 and layer 2) and cross-chain protocols , as well as wallets for paying for purchases with cryptocurrencies.
Finally, still with this idea of diversifying its investments as much as possible, FTX Ventures also plans to invest in insurance and security products .
Future investments by FTX Ventures are highly likely to greatly benefit the development of the FTX platform ecosystem, as the two entities are closely intertwined:
“We want to be known for the added value we provide, leveraging FTX’s resources, expertise and global network,” she added.
FTX Ventures now sits alongside funds established by its competitors, such as Binance Labs by Binance and Coinbase Ventures by Coinbase .
Moreover, although the seed capital of FTX Ventures is beyond belief, it does not come close to Paradigm , which launched a $ 2.5 billion investment fund last November .
