FTX, a cryptocurrency exchange, has launched a $2 billion venture fund. The fund will focus on companies that advance “global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare.” Amy Wu, a former partner at Lightspeed Partners, will lead the venture unit.
NASSAU, Bahamas, Jan. 14, 2022 /PRNewswire/ — FTX Trading Limited (“FTX”), today announced the launch of FTX Ventures (“the Fund”), a $2 billion venture capital fund focused on backing the world’s best teams building in the digital asset ecosystem. FTX Ventures’ core mission is to advance global blockchain and 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.
“Our investors at FTX have made a deep impact in supporting our growth and development. We strive to do the same at FTX Ventures and are excited to find the brightest minds and disruptive innovation in tech,” says Sam Bankman-Fried.
Alongside the Fund’s launch, crypto investor Amy Wu joined FTX to lead Ventures, gaming, M&A and commercial initiatives. Amy was most recently a Partner at Lightspeed Venture Partners, a $10B+ multi-stage venture fund, where she led crypto and gaming investments, including the fund’s investment in FTX. She was previously an executive at Discovery, Inc., a global media company, where she led operations and finance across Asian markets, digital businesses, and sports.
Ms. Wu says, “I am thrilled to be joining FTX to work alongside Sam and some of the smartest people disrupting the financial services industry. With FTX Ventures, we are looking to support entrepreneurs building generational businesses. We’re particularly excited about web3 gaming and its ability to bring mainstream audiences into the ecosystem.”
FTX Ventures will launch with a team of eight, including General Partner Ramnik Arora, Advisor Armani Ferrante, and others.
About FTX Ventures
FTX Ventures is a multi-stage venture capital fund focused on supporting the world’s best teams building in crypto and web3. The fund provides flexible funding and strategic support from FTX and its network of global partners. FTX Ventures currently manages $2B in AUM.