Nexo, one of the world’s leading regulated digital assets management firms, has launched its investment arm, Nexo Ventures. The VC arm will focus on acquisitions and investments in the Web3 ecosystem as it pursues its mission of promoting the adoption of blockchain technology. Consequently, Nexo has allocated $150 million to its investment arm, to go towards five key focus areas. They include:
Notably, this isn’t the first VC action by the company. It has invested in leading blockchain projects in the recent past, including Bware Labs, Texture Capital, BCB Group, BlockFills, Yield Protocol, Mizar, Interlay, Qredo, Rain, The TIE and 1Inch. Notably, in December 2021, it became the first DeFi lender to accept NFTs as collateral, following its partnership with Three Arrows Capital. However, it will be channelling its VC action through the Nexo Ventures henceforth.
As a platform built from scratch in the digital space, Nexo has a good understanding of the market needs. It hopes to use this to its advantage and also employ its in-depth FinTech expertise to win high-potential projects. Tatiana Metodieva, the Nexo head of Corporate Finance and Investment, will head its VC wing.
She commented on the launch, stating, “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 is a global leader in digital assets solutions and management and boats of being a fully-regulated firm in a highly unregulated market. It offers crypto exchange services, high-yielding crypto earning products, as well as OTC trading and sophisticated trading services. It has a presence in more than 200 countries and has processed more than $75 billion worth of transactions. Furthermore, it has a wallet service known as Nexo Wallet.
This post was last modified on Mar 23, 2022, 10:11 GMT 10:11