Nexo Announces $150M Venture Capital Fund for Web3 Initiatives

According to an official press release by Nexo, the company will be looking to expand its reach in the Web3 technologies by taking up crypto and FinTech startups under the $150 million Nexo Ventures fund.

Nexo, alongside the investment, will be giving its potential partners an open platform for marketing initiatives, access to its core products, and expert-level support from the platform’s development team.

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Head of Corporate Finance and Investments at Nexo Tatiana Metodieva will be leading the venture fund, and will attempt to "drive the continued adoption of digital assets and the expansion of the Web3 ecosystem." She added:

"We prioritize strategic investments and aim to integrate innovative solutions into Nexo’s product ecosystem and across our global market footprint. We explore the feasibility of enabling Nexo’s users to invest alongside us, thereby leveraging our capabilities to facilitate investor diversification and wealth maximization."

The main areas of interest for the company include startups with deep knowledge and a solid foundation of Web3 and future digital finance solutions, alongside GameFi projects with interest in NFTs and Metaverse initiatives.

Investments in Web3 technologies have been pouring in over the past several weeks. Just yesterday, the creators of the Bored Ape Yacht Club NFT collection Yuga Labs secured $450 million for its metaverse project the Otherside.

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