MoonPay Launches Venture Arm To Invest In Web3
MoonPay, a provider of web3 infrastructure, has formed an investment arm that will concentrate on early-stage entrepreneurs in the web3, gaming, and related fintech sectors.
With a focus on seed and Series A rounds, the investment arm, known as MoonPay Ventures, will typically invest between $100,000 and $1 million. According to Abhay Mavalankar, VP of corporate development and investments at MoonPay, it has already invested in more than 25 businesses, including BCB Group, Ledger, BRUT, BeatClub, absolute laboratories, Create/OS, BridgeTower Capital, and Mythical Games.
MoonPay is investing off its balance sheet with a “definite angle” toward commercial ROI, not a specific fund amount. The company, valued at $3.4 billion, builds payment infrastructure for crypto and has 500 industry partners. With over 5 million customers and 80 assets, it supports over 80 assets.
(With inputs from Shikha Singh)
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