Crypto.com launched a venture capital division and committed $ 200 million to invest in promising cryptocurrency startups as they seek to expand their partnership with entrepreneurs in the cryptocurrency and blockchain industries.
Announced in March. In Figure 4, a new venture capital alert called Crypto.com Capital has been launched to accelerate the growth of cryptocurrencies and accelerate the growth of the industry as a whole, according to a press release.
The $ 200 million fund will be used to invest in initial rounds of promising startup, with individual investments ranging from $ 100,000 to $ 3 million. Series A funding rounds will amount to $ 3 million to $ 10 million.
Crypto.com (formerly Monaco) was founded in 2016 and has since launched a mobile payment app that offers users up to 20% off purchases with their blockchain CRO. The project also launched a gaming program of up to 14% annually, and a Visa card that can be completed with cryptocurrency or fiat currency.
Chris Marshallk, co-founder and CEO of Crypto.com, spoke about the project’s user base of 10 million users, adding that long-term partnerships are his priority.
“Crypto.com Capital gives the founders of the cryptocurrency industry two things: an honorable pioneer investor for their first rounds or the A-Series and prioritized launches on the world’s fastest growing hash crypto platform with more than 10 million users,” Marshall said, adding: “We see after partnership. Long-term business with entrepreneurs from all sectors of the cryptocurrency industry to market them together. ”
The venture capital arm will give startups direct access to a global user base as well as early financing, said Bobby Bao, co-founder of Crypto.com and head of the new wing of Crypto.com Capital. Bao sa:
“The motto and operating principle of Crypto.com Capital is Founders First. As business builders, we understand how difficult it can be to revive revolutionary ideas. Founders can trust that we act quickly, raise capital and gain access to a global user base to help them succeed. ”
In early March, Crypto.com sponsored the Aston Martin Formula 1 racing team. The project logo will be displayed on the team cars during the race 2121-2022.