Cryptocurrency exchange platform FTX Trading has launched FTX Ventures, a $2 billion venture capital fund focused on backing the world’s best teams operating in digital assets.
FTX Ventures’ core mission is to advance global blockchain and resulting ‘web3’ adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare. The fund will invest in multi-stage companies and projects, providing flexible funding and strategic support from FTX and its network of global partners.
FTX Ventures will launch with a team of eight, including general partner Ramnik Arora and adviser Armani Ferrante.
Alongside the fund’s launch, crypto investor Amy Wu has joined FTX to lead Ventures, gaming, M&A and commercial initiatives. She was most recently a partner at Lightspeed Venture Partners, a $10 billion-plus multi-stage venture fund, where she led crypto and gaming investments, including the fund’s investment in FTX.
In August last year, FTX reduced their maximum leverage from 125x to 25x, amidst growing criticism of margin trading in cryptocurrency.
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