Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Crypto.com Launches $200 Million Startup Fund

Published 03/05/2021, 04:02 AM
Updated 03/05/2021, 04:30 AM
Crypto.com Launches $200 Million Startup Fund

Crypto.com Launches $200 Million Startup Fund

  • Crypto.com launched its venture arm Crypto.com Capital.
  • The newly-formed fund will focus on investing in crypto startups.
  • $200 million will be used to accelerate the growth of promising startups.

After launching their DeFi swap platform last year, Crypto.com has been making headlines. The project reached many milestones and partnerships. Because of such developments, the project gained a lot of support going from 5 million users last year to 10 million users today.

Though they have a lot at hand, the project continues to expand. They recently announced that they have launched Crypto.com Capital. This fund will focus on accelerating the growth of promising startups.

The fund is expected to use $200 million in Seed and Series A stages. According to Kris Marszalek, CEO of Crypto.com, the Seed rounds will issue $100k to $3 million investments. On the other hand, the Series A stage will issue investments from $3 million to $10 million.

Marszalek states,

We’re looking for long-term partnerships with entrepreneurs in every sector of the cryptocurrency industry, so we can advance it together.

Crypto.com Capital will be led by Bobby Bao, one of the Co-Founders of Crypto.com. According to Bao, they understand the hardships in bringing game-changing ideas to life.

“Founders can count on us to move fast and provide both capital and access to a global user base, helping them succeed,” he said.

This article first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.