Leading crypo derivatives exchange, FTX, has revealed a $2 billion venture fund to go to crypto and fintech startups.
In a blog post, the $25 billion company said the fund would have a major focus on:
Sometimes outside of crypto
The venture fund will be headed by Amy Wu, a former partner at $10 billion investment firm, Lightspeed Ventures, where she led crypto and gaming investments, including the fund’s investment in FTX.
“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.”
“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.”
– Sam Bankman-Fried, CEO, FTX
In November 2021, FTX led a $150-million series C round in Chipper Cash, an African fintech, as they chase the vision of making money transfer as simple as a text message and accelerate the adoption of crypto across the African continent.
Africa is rife with startups in crypto and fintech.
In 2021, a report produced by Chainalysis indicated that crypto adoption in Africa grew more than 1,000% from peer-to-peer transaction volume totaling $105 billion, according to .