Nexo Unveils $150 Million worth VC Fund For Web3 and Crypto Expansion

• Ayushi Abrol
• March 24, 2022

With technological evolution, investment in Web3 projects, cryptocurrencies, and blockchain technology has gained a lot of attention from businesses and multinational firms. To reap the potential of the fast-developing space, Nexo- a highly-acclaimed digital asset service provider- has launched a venture capital unit to expand investments in Web3 projects. Referred to as Nexo Ventures, the newly-created fund will kickstart its operations with an initial investment of $150 million to strengthen Nexo’s presence across the new-age technology sphere.

According to the report, Nexo Ventures is designed to work as an in-house investment and acquisition fund focused on Web3 technology. It will explore to unlock profitable opportunities across a wide range of fields focused on digitalization and decentralization tools. The unit will put emphasis on six core financial and investment realms such as:

•       Decentralized Finance
•       GameFi, Non-Fungible Tokens, and Metaverse,
•       Payment Infrastructure and Trading Capacities
•       Compliance Protocols
•       Crypto Solutions and Apps
•       Web3 projects

The project will be managed and directed by Tatiana Metodieva who presently serves as the Head of Corporate and Finance Investments at Nexo. The VC arm will leverage support for the development and mainstream adoption of blockchain technology solutions. It will strive to nurture long-term projects hailing from multiple domains and lying-in sync with Nexo’s core objectives.

Talking about the venture fund, Tatiana stated that the firm entrusts blockchain technology to revolutionize the financial sector. The team aspires to support developers willing to contribute to crypto evolution. The VC will work to encourage the adoption of virtual assets and usage of Web3 tech solutions. The chief added that they possess a strong knowledge about the crypto field and the venture capital fund is different from traditional investment pools. The firm plans to infuse innovative projects into Nexo’s ecosystem and thus leveraging the capacity to promote wealth maximization and diversification of users.

The Nexo team has made strategic investments in renowned digital asset service providing firms like BCB Group, 1inch, Mizar, Texture Capital, Yield Protocol, Rain, Qredo, Bware Labs, The TIE, etc. Nexo shines as a top-tier brand in the MetaFi space. It emerged as the first crypto lender to facilitate NFT-based collateral loans through a partnership with Three Arrows Capital firm.

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