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FTX launches $2bn fund to back web3 startups

FTX launches $2bn fund to back web3 startups

Cryptocurrency exchange FTX has launched a $2 billion venture capital fund that will invest in firms pushing blockchain and web3 adoption in areas including social, gaming, fintech, software, and healthcare.

FTX has hired Amy Wu from Lightspeed Venture Partners to lead the fund, as well as gaming, M&A and commercial initiatives.

The fund will invest in multi-stage companies and projects, providing flexible funding and strategic support to teams building in the digital asset ecosystem.

Says Wu: "With FTX Ventures, we are looking to support entrepreneurs building generational businesses. We're particularly excited about web3 gaming and its ability to bring mainstream audiences into the ecosystem."

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