Felix Capital Raises $600M to Invest in Tech Startups Including Crypto and Web3.0

Felix Capital, a Venture Capital firm based out of Lond has raised the sum of $600 million as it seeks to double down on its backing of startups involved in advancing commerce-related innovations. The fund will also be used to bootstrap firms that are complementing these ecommerce outfits, which may extend to cryptocurrencies and Web3.0.

The world of finance is not having it easy at this time as investors are generally advocating for startups to cut costs and conserve funds in light of the unprecedented economic conditions.

“I’ve lived through a couple of downturns starting in 2000,” said Federic Court, the founder and Chief Executive Officer of Felix Capital. “I’ve spent a lot of time undoing what had been done before. Complex terms like preferred returns, we’d never do that now. For all the money coming in very quickly to the industry, say from hedge funds or others not in industry, they came in with a short-term-gains mantra. But our business is fundamentally a long-term business, and it takes a long time to build a great company. That’s even more true on the consumer side, you can’t just over-accelerate a brand.” 

The funding comes off as the biggest from Felix Capital, bringing its total managed funds to $1.2 billion. The startup started out in 2015 with a capital base of just $120 million, and the current position of the firm shows how far the company has come in just 7 years.

Felix Capital and the Subtle Crypto Embrace

Felix Capital is an outfit that primarily backs traditional companies, however, it has been injecting funds into a number of crypto startups the most notable of which is Sorare. 

With the new capital base, Felix Capital may be doubling down on the new ecosystem which has become a major attracting option for investors across the board. Crypto startups are playing a very vital role in today’s ecommerce world as many crypto payment firms are creating an alternative model by which shoppers can access and pay for goods and services.

While supermarkets like Croatia’s Konzum are already integrating Bitcoin payments, luxury clothing brand Balenciaga also accepts crypto payments, and this makes the entry of Felix Capital a well-timed one.