Nexo starts web3 investment funds of $ 150 million
Nexo starts web3 investment funds of $ 150 million
- The Nexo investment team has already supported BCB Group, Blockfills, The Tie and 1inch
- Through a partnership with the HEDGREE Arrows Capital, Nexo announced an NFT-based loan service in December
crypto-platform nexo has launched an internal web3 investment fund of $ 150 million.
The company's risk capital investment, Nexo Ventures, plans to use capital in sectors such as blockchain-based games, decentralized finances (DEFI) and NFTS.
"It developed from a 'secondary employment' of the corporate finance team last summer to a full-fledged strategic part of the business in January," Troy Gravitt, head of communication from Nexo, told Blockworks.
Tatiana Metodieva, Head of Corporate Finance and Investments in the Venture Sector, said that the fund will "push the further introduction of digital assets and the expansion of the Web3 ecosystem".
"In addition, our promise of value for investments differs from most traditional investment funds," said Metodieva, an approved financial analyst. "We are located in the digital-asset industry and technology and have a deep understanding of this. We prioritize strategic investments and strive to integrate innovative solutions into the Nexo product ecosystem and into our global market presence."
Before the fund was led, the venture unit invested in 1inch, BCB Group, Blockfills, Bware Labs, Interlay, Mizar, Qredo, Rain, Texture Capital, The Tie and Yield Protocol.
The short -term dealflow for the fund, according to a source familiar with the matter, will "easily double the number and size of its latest investments".
In December, Nexo introduced his NFT-supported Lending Desk with the Hedge fund Three Arrows Capital from Singapore. The service enables customers to use NFTS (not fungible tokens) such as cryptopunks and bored apes as security for loans.
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The Nexo contribution starts web3 investment funds worth $ 150 million is not financial advice.