Crypto.com Launches $200 Million Startup Fund
CoinEdition
Published Mar 05, 2021 04:02AM ET
Updated Mar 05, 2021 04:30AM ET
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
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Written By: CoinEdition
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