Nexo Launches its Ventures Capital Arm With Initial Funding Capital of $150M

Cryptocurrency and digital assets lender, Nexo has launched Nexo Ventures with the sole aim of investing in blockchain startups and innovative Web3.0 projects. The investing arm will be utilizing a fund of $150 million in the long-term to concentrate on the backing of blockchain, crypto, and Web3.0 in a bid to help in boosting the adoption of emerging technology.

The focus of the fund will be on Web3, DeFi Innovation, Metaverse, NFTs and GameFi, Payments and Trading Infrastructure, and Compliance Solutions. The digital assets lending platform said the new offshoot will be managed by Tatiana Metodieva, CFA, Nexo Head of Corporate Finance and Investments.

“At Nexo, we believe that blockchain technology will transform the way we connect and use financial services,” said Tatiana Metodieva, CFA. “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 Ventures Charts a Different Investment Course

Unlike other renowned investment startups catering to the digital currency ecosystem, the decision to fund payment startups comes off as a somewhat different strategy compared to the majority of VC firms in the space.

“Also, our investment value proposition differs from most traditional investment funds. We’re native to and have a deep understanding of the digital asset industry and technology. We prioritize strategic investments and aim to integrate innovative solutions into Nexo’s product ecosystem and across our global market footprint. We explore the feasibility of enabling Nexo’s users to invest alongside us, thereby leveraging our capabilities to facilitate investor diversification and wealth maximization,” Metodieva added.

With plans to expose its backed startups to its wide network of partners in the crypto ecosystem, Nexo Ventures hopes to expand the liquidity provision for its partnering protocols. Nexo is not entirely new to the investment landscape as it has backed startups such as Texture Capital, Yield Protocol, and 1iNCH amongst others in the past.

The rate at which Venture Capital funds are entering the digital currency ecosystem is not surprising as many now consider Web3.0 as the future of the internet. With the move to become part of the ecosystem’s growth, startups like Cake DeFi have raised $100 million, a similar move to that of Nexo Ventures.