Nexo Announces $150 Million VC Fund, Searches for Web3-Driven Startups

Nexo Announces 150 Million VC Fund Searches for Web3 Driven Startups

The digital asset investment platform will pick up blockchain startups with its latest VC fund.

According to an official press release from Nexo, the company will expand its reach in Web3 technologies by including crypto and FinTech startups under its $150 million Nexo Ventures fund.

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In addition to the investment, Nexo will provide its potential partners with an open platform for marketing initiatives, access to its core products and expert-level support from the platform’s development team.

Head of Corporate Finance and Investments at Nexo Tatiana Metodieva will lead the venture capital fund and will seek to “drive the continued adoption of digital assets and the expansion of the Web3 ecosystem.” She added:

“We prioritize strategic investments and strive to integrate innovative solutions into Nexo’s product ecosystem and into our global market footprint. We are exploring the feasibility of enabling Nexo’s users to invest alongside us, leveraging our capabilities to diversify investors and wealth maximization.”

The main areas of interest for the company are startups with deep knowledge and a solid foundation of Web3 and future digital finance solutions, in addition to GameFi projects with an interest in NFTs and Metaverse initiatives.

Over the past few weeks, investments in Web3 technologies have been pouring in. Yesterday, the creators of the Bored Ape Yacht Club NFT collection Yuga Labs raised $450 million for its metaverse project the Otherside.

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Dom Z. – Crypto Analyst, BitDegree

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