Bahamian-based crypto exchange FTX has launched a $2 billion venture fund to facilitate crypto investments in the private market. The exchange platform has entrusted the venture fund to industry expert Amy Wu.
A former partner at $10 billion venture capital company Lightspeed, Wu touched on the development in a media session. According to her, the FTX venture fund will facilitate strategic moves within the crypto market. Also, Wu stated that such strategic moves will be to the benefit of increased blockchain adoption. In her own words:
“It’s not necessarily tied to the strategy of FTX, the objective is more to accelerate the adoption of blockchain technology. We want to be known for the value add that we bring, leveraging the resources, the expertise and the global network of FTX.”
FTX also weighed in on the fund initiative and the long-term efforts it poses. According to the company, the fund will cut across various segments sprouting within the Web3 and blockchain space. Part of FTX’s aim is to:
“…advance global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare.”
As the crypto space grows and attracts more mainstream attention, crypto-focused companies are also looking to leverage. These firms are doing so by establishing venture capital bets that promote wholesomely rewarding efforts.
Image Credits: Pixabay
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