Felix Capital Raises $600 Million to Grow Web3 Exposure – Bitcoin News

Felix Capital, a London-based VC firm, has raised $600 million in its fourth fundraising spherical, this being its largest but. The corporate, which has been investing in commerce and money-tooling startups, is planning to make use of a part of the funds raised to extend its Web3 publicity as a part of its new enterprise technique.

Felix Capital Contains Web3 in Enterprise Plan

Enterprise capital corporations from all around the world at the moment are turning their eyes to Web3, a brand new area that intertwines the web and crypto. One such agency has been Felix Capital, a London-based VC firm that has expanded its marketing strategy to incorporate Web3 as a part of its present pursuits. With its newest fundraising spherical, the corporate obtained $600 million, surpassing its preliminary purpose of $500 million.

For the agency, that is its fourth and largest fundraise so far, bringing its whole belongings underneath administration to $1.2 billion. In a weblog submit, the corporate defined that these funds will likely be used to again one other 20 to 25 firms over the subsequent couple of years, throughout Europe and North America.

Concerning the inclusion of Web3 parts in its subsequent investments, the corporate stated:

We’re increasing our areas of curiosity, planning to develop our publicity to Web3, a brand new platform for creativity, neighborhood, and naturally entrepreneurship. The urgency to dwell a extra sustainable life-style will likely be an more and more central theme, consistent with our mission to accomplice with founders who wish to have a optimistic influence on the world.

Frederick Court docket, head of Felix Capital, believes that the present market downturn doesn’t have an effect on its operations as a result of the corporate’s investments are “basically a long-term enterprise, and it takes a very long time to construct an important firm.”

A Web3 Funding Explosion

Web3 is turning into a recurrent theme for VCs that wish to broaden their funding focus. Felix Capital is simply one of many corporations that has declared intentions to again firms within the Web3 surroundings, and various different corporations have additionally pivoted a part of their investments to this new area.

On June 9, Solana Ventures, the funding arm of Solana, announced it might allocate $100 million to assist modern Web3-based merchandise and firms in South Korea. Additionally, on June 3, Binance Labs reported on the launch of a $500 million fund centered on firms proposing to increase the capabilities of crypto utilizing blockchain and Web3 tech.

What do you consider Felix Capital’s $600 million Web3 fund? Inform us within the feedback part under.

Sergio Goschenko

Sergio is a cryptocurrency journalist primarily based in Venezuela. He describes himself as late to the sport, coming into the cryptosphere when the value rise occurred throughout December 2017. Having a pc engineering background, residing in Venezuela, and being impacted by the cryptocurrency increase at a social degree, he provides a special standpoint about crypto success and the way it helps the unbanked and underserved.

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