Crypto.com’s venture fund hires former tech journalist Jon Russell

Crypto.com Capital has named former TechCrunch journalist Jon Russell as its newest partner, according to an announcement.

The $200 million venture capital fund, launched by Crypto.com in March 2021, writes cheques for up to $10 million for early stage web3 startups — and invests in both tokens and equity.

It has so far backed the likes of crypto security firm Ledger, avatar-maker Genies, and DeBank, the decentralized wallet.

Russell is a veteran tech journalist who spent five years at TechCrunch covering the Asian market before joining media startup The Ken. He will work under Crypto.com co-founder Bobby Bao, who leads the wallet firm’s venture arm.

“I’ve had offers to move into crypto full-time before but Crypto.com is the most ambitious company in web3,” said Russell in a statement. “The Crypto.com Capital fund brings a very unique advantage to help the world’s best web3 founders and startups to realise their potential and I can’t wait to play my part.”

While the move from journalism to venture capital is unusual, it is not without precedent. Notably, Welsh billionaire Michael Moritz spent his early career as a journalist before joining Sequoia Capital.