Nexo today announced the launch of Nexo Ventures, its in-house Web3-focused investment and acquisition fund.
The move follows several major initiatives, such as crypto debit cards and an NFT lending desk, which are expected to bring Nexo to the forefront of the DeFi market.
Nexo pledges $150 million in long-term commitments
According to the company announcementNexo Ventures will focus on accelerating the development and adoption of blockchain technology through investments in various Web3 projects and initiatives.
The venture capital fund will invest $150 million in long-term commitments to a wide range of early-stage projects, both commercial and institutional, that could complement the company’s core business.
Tatiana Metodieva, the company’s CFA, will lead Nexo Ventures and help drive the continued adoption of digital assets through meaningful investments.
“Our mission is to uplift entrepreneurs who help drive the crypto revolution forward,” she said in the company’s statement. “Furthermore, our investment value proposition differs from most traditional investment funds. We are native speakers 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.
Prior to the launch of Nexo Ventures, Nexo’s in-house investment team made key investments in 1inch, Yield Protocol, Qredo and others. In-depth knowledge of the space, combined with a series of successful investments, will certainly help the fund target promising projects, explained Metodieva.
The fund will focus on five key investment areas: Web3, DeFi innovation, payment and trading infrastructure, compliance solution, as well as metaverse, NFTs and GameFi. It will also explore the feasibility of a model allowing Nexo users to invest alongside the fund, a move that Metodieva says could create investor diversification and maximize the wealth of its users.