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.