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Startups that partner with Nexo Ventures will have access to wide in-house FinTech expertise and development resources.
Nexo, one of the leading digital assets lenders in the crypto ecosystem, has launched its venture arm called Nexo Ventures with an initial sum of $150 million set aside for its investment push. As announced by the platform, Nexo Ventures will be headed by Tatiana Metodieva, CFA, the company’s current Head of Corporate Finance and Investments.
“At Nexo, we believe that blockchain technology will transform the way we connect and use financial services,” said Tatiana Metodieva, CFA. “Our mission is to elevate entrepreneurs who help push the crypto revolution forward. Nexo Ventures aims to drive the continued adoption of digital assets and the expansion of the Web3 ecosystem.”
The focus of the Nexo fund will be on Web3, Decentralized Finance (DeFi) Innovation, Metaverse, Non-Fungible Tokens (NFTs) and GameFi, Payments and Trading Infrastructure, and Compliance Solutions. While the funds model Nexo’s commitment towards powering the growth, development, and adoption of blockchain technology and its attendant innovations, the company’s push into payments and compliance solutions markedly show a difference from what is observed from other major funds in the space.
“..our investment value proposition differs from most traditional investment funds. We’re native to and have a deep understanding of the digital asset industry and technology. We prioritize strategic investments and aim to integrate innovative solutions into Nexo’s product ecosystem and across our global market footprint. We explore the feasibility of enabling Nexo’s users to invest alongside us, thereby leveraging our capabilities to facilitate investor diversification and wealth maximization,” Tatiana added.
Prior to the official launch of Nexo Ventures, the digital assets lender has been actively investing in a slew of Web3.0 projects in the past. Amongst the startups within the project’s portfolio include 1inch, BCB Group, BlockFills, Bware Labs, Interlay, Mizar, Qredo, Rain, Texture Capital, The TIE, and Yield Protocol amongst others.
The Nexo Ventures Advantage
Nexo is a platform with a deep knowledge of the operations of the digital currency ecosystem and funds that eventually become funded by the startup can be considered to have a unique headstart for a number of reasons.
Startups that partner with Nexo Ventures will have access to wide in-house FinTech expertise and development resources. Besides gaining access to in-depth integration with Nexo’s core products and services for optimal business model deployment, the blockchain startups that will be funded by the venture capital firm will receive extensive marketing and community support as well as liquidity provision for partnering protocols.
In the past year, the level of interest in blockchain and Web 3.0 focused startups has grown dramatically with even traditional investment firms casting their net to fish in the growing market. In a similar move to Nexo Ventures, Andreessen Horowitz launched a $2.2 billion fund for the crypto industry in mid last year, the biggest of such funds at the time which was only surpassed by Paradigm Capital’s $2.5 billion earmarked for the same purpose.
With more focus on Web3 as the future of the internet, a number of related ventures funds are bound to be established in the near future.