Leading regulated institution for digital assets Nexo has launched a $150 million in-house Web3-focused venture fund called Nexo Ventures that will be geared towards investment and acquisition.
The Nexo Ventures, which will be the official Nexo’s venture capital investment arm plans to invest in several institutional and retail projects related to Nexo’s core businesses that include DeFi Innovation, NFTs, Metaverse, GameFi, and Web3, trading and payment infrastructure among others. The venture fund shall mainly focus on the projects that are at their early stages of development.
Following the launch of the Venture Fund, Nexo Head of Corporate Finance and Investments Tatiana Metodieva said:
“Our mission is to elevate entrepreneurs who help push the crypto revolution forward. Nexo Ventures aims to drive the continued adoption of digital assets and the expansion of the Web3 ecosystem.”
Nexo's support for blockchain projects
The initiative just emphasizes Nexo’s commitment to supporting blockchain projects. Before the Ventures Fund was launched, Nexo invested in several blockchain projects including 1inch, BlockFills, Labs, BCB Group, Mizar, Texture Capital, Interlay, The TIE, Qredo, Bware, Yield, Rain.
1/ Thread: Today we’re proud to announce the launch of Nexo Ventures, our in-house Web3-focused investment and acquisition fund https://t.co/sGYYMMjqUI
— Nexo (@Nexo) March 23, 2022
In December 2021, Nexo in partnership with Singapore digital asset hedge fund Three Arrows Capital became the first crypto lender to accept NFTs as collateral for loans.
Operating in more than 200 countries, Nexo currently offers crypto exchange services including 300+ market pairs, sophisticated trading and OTC services, and a high-yield Earn Crypto Interest suite while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet.