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Nexo raises $150M Web3-Focused venture fund

 


Leading regulated digital asset institution, Nexo, has raised a $150 million internal Web3-focused venture fund called Nexo Ventures, which will be focused on investments and acquisitions.


Nexo Ventures, Nexo's official venture capital investment arm, plans to invest in several institutional and retail projects related to Nexo's core businesses, including DeFi Innovation, NFTs, Metaverse, GameFi and Web3, and commerce and payments infrastructure. The venture capital fund is intended to focus primarily on projects that are in the early stages of development.


Following the launch of the venture fund, Tatiana Metodieva, Head of Corporate Finance and Investments at Nexo said:


“Our mission is to nurture entrepreneurs who help fuel the crypto revolution. Nexo Ventures aims to drive the continued adoption of digital assets and the expansion of the Web3 ecosystem.”


Nexos support for blockchain projects

The initiative only underscores Nexo's commitment to supporting blockchain projects. Before founding the Ventures Fund, Nexo invested in several blockchain projects including 1inch, BlockFills, Labs, BCB Group, Mizar, Texture Capital, Interlay, The TIE, Qredo, Bware, Yield, Rain.



In December 2021, Nexo became the first crypto lender to accept NFTs as collateral for loans in partnership with Three Arrows Capital, a Singapore-based digital asset hedge fund.


Operating in more than 200 countries, Nexo currently offers crypto exchange services including 300+ market pairs, sophisticated trading and OTC services, and a high-yield Earn Crypto Interest suite while offering the world-class custody insurance and military-grade security of the Nexo Wallet.

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