Nexo announced today that it has launched Nexo Ventures, its in-house Web3 focused investment and acquisition fund.
The move follows several major initatives, such as crypto debit cards and an NFT lending desk, that are set to bring Nexo to the forefront of the DeFi market.
Nexo promises $150 million in long-term commitments
According to the company’s announcement, Nexo Ventures will focus on accelerating the development and adoption of blockchain technology through investments in various Web3 projects and initatives.
The venture fund will invest $150 million in long-term commitments in a wide range of early-stage projects, both retail 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 elevate entrepreneurs who help push the crypto revolution forward,” she said in the company’s statement. “Also, 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.”
Leading up to the launch of Nexo Ventures, Nexo’s in-house investment team has made key investments in 1inch, Yield Protocol, Qredo, and others. A deep knowledge of the space, combined with a series of successful investments, will certainly help the fund in targeting promising projects, Metodieva explained.
The fund will focus on five key areas of investment: Web3, DeFi innovation, payment and trading infrastructure, compliance solution, as well as the metaverse, NFTs, and GameFi. It will also explore the feasibility of a model that enabled Nexo’s users to invest alongside the fund, a move Metodieva said could create investor diversification and maximize the wealth of its users.