Nexo Launches $150 Million Investment Fund, Nexo Ventures: Focused on Web3

• Nexo has recently rolled out a $150 million in house Web3 investment fund, Nexo Ventures.

• Nexo Ventures will be focused on Decentralised Finance (DeFi), Web3, NFT, Metaverse, GameFi, payment and trading infrastructure compliance solutions and crypto applications. 

• The Venture unit has earlier invested in names like BCB Group, 1inch, Bware Labs, BlockFills, Mizar, etc.

The leading regulated institution for digital assets, Nexo has launched a $150 million in-house Web 3 investment fund. And the platform’s venture capital investment division Nexo Ventures is planning on deploying the capital in blockchain-based gaming, Non-Fungible Tokens (NFTs), and Decentralised Finance (DeFi). 

Nexo Venture would further invest the $150 million fund in long-term commitments to a broader array of early-stage retail and institutional projects coordinated with Nexo’s core businesses. 

According to Troy Gravitt, Nexo’s head of communications, who told a news website that it went from a side hustle of the corporate finance team last summer to a full-on strategic part of the business by January. 

According to the venture arm’s head of corporate finance and investments, Tatiana Metodieva, the fund would drive the continued adoption of virtual assets and the expansion of the Web 3 ecosystem. 

Further adding that also their investment preposition value differs from most traditional investment funds. And that they are native to and have a deep understanding of the virtual asset industry and technology. They prioritize strategic investments and are focused on integrating innovative solutions into Nexo’s product ecosystem and across their global market footprint.

Earlier, the Venture unit has invested in names like BCB Group, 1inch, Bware Labs, BlockFills, Mizar, Qredo Rain, Interlay, Yield Protocol, Texture Capital, and The TIE. 

Last December, Nexo also put a step forward in the NFT space by launching its NFT backed lending desk with Three Arrows Capital, the Singapore Digital asset hedge fund. This is a service that facilitates the clients to use Non Fungible Tokens (NFTs) like Bored Apes, CryptoPunks, etc., as collateral for loans. 

Nexo aims at maximizing the value and utility of cryptocurrencies by providing an exchange service with over 300 market pairs, and a high yield earns crypto interest suite and a lot more. 

Nexo Ventures is primarily focused on Decentralised Finance (DeFi), Web3, NFT, Metaverse, GameFi, payment, and trading infrastructure compliance solutions, and crypto applications. 

ALSO READ: New $100M Fund Aims To Bolster Blockchain Development 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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