FTX Trading Limited has confirmed it is starting a new venture capital fund with the goal of supporting blockchain and crypto solutions that can be applied in various industries.
Aside from the release of FTX Ventures’ $2 billion venture capital fund, the company has employed Amy Wu, a former Lightspeed Ventures partner. Wu will be in charge of FTX Ventures’ gaming, M&A, and commercial initiatives.
“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 invest in multi-stage companies and projects, providing flexible funding and strategic support from FTX and its network of global partners.”
Wu stated:
“We’re particularly excited about web3 gaming and its ability to bring mainstream audiences into the ecosystem.”
On Friday, Sam Bankman-Fried declared:
“Our investors at FTX have made a deep impact in supporting our growth and development. We strive to do the same at FTX Ventures and are excited to find the brightest minds and disruptive innovation in tech.”