Thursday, December 19, 2024
HomeDeFiNexo plans to invest USD 150 million in Web3 investment fund via its...

Nexo plans to invest USD 150 million in Web3 investment fund via its new subsidiary

According to a recent Nexo press release, the company’s new subsidiary, Nexo Ventures, will invest in numerous Web3 projects and efforts to accelerate the development and use of blockchain technology.

The move comes after a number of important projects, including crypto debit cards and an NFT loan desk, which are expected to put Nexo at the top of the DeFi market.

The venture fund would invest $150 million in long-term commitments in a wide range of early-stage retail and institutional projects that could help the company’s main business.

Tatiana Metodieva, the company’s CFA, will be in charge of Nexo Ventures and contribute to the further use of digital assets via relevant investments.

Nexo’s in-house investment team made significant investments in 1inch, Yield Protocol, Qredo, and other companies prior to the creation of Nexo Ventures. Metodieva said that the fund’s deep knowledge of space, as well as a history of successful investments, would help it find new businesses.

The fund’s investment focus will be on five major areas: Web3, DeFi innovation, payment and trade infrastructure, compliance solutions, as well as the metaverse, NFTs, and GameFi. It will also investigate the viability of a strategy that allows Nexo’s users to invest alongside the fund, a move Metodieva believes would increase investor diversity and maximise its users’ wealth.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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