Felix Capital Raises $600 Million to Grow Web3 Exposure – Web3, a new field that combines the internet and crypto, is drawing the attention of venture capital firms from all around the world.
Felix Capital, a London-based venture capital firm, is one such organization that has broadened its business plan to include Web3 as one of its current interests. The company raised $600 million in its most recent fundraising round, exceeding its $500 million goal.
This is the firm’s fourth and largest fundraise to date, raising $1.2 billion in total assets under management. In a blog post, the company stated that the cash will be used to back another 20 to 25 companies across Europe and North America in the coming years.
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Web3 elements will be included in the company’s upcoming investments, according to the company:
“We’re broadening our range of possibilities, with plans to expand our knowledge of Web3, a new platform for creativity, community, and, of course, entrepreneurship. In keeping with our goal to partner with founders who want to have a positive effect on the world, the urgency to live a more sustainable lifestyle will become an increasingly central theme.”
The present market downturn, according to Frederick Court, has no impact on Felix Capital’s operations because the company’s investments are “fundamentally a long-term business, and it takes a long time to build a strong company.”
Web3 is becoming a recurring theme for venture capitalists looking to broaden their investment options. Felix Capital is one of the firms that has stated its aim to invest in Web3 companies, and a number of other firms have also shifted a portion of their investments to this new sector.
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Solana Ventures, the Solana investment arm, said on June 9 that it would spend $100 million in South Korea to support innovative Web3-based products and businesses. On June 3, Binance Labs announced the establishment of a $500 million fund aimed at firms who want to utilize blockchain and Web3 technology to expand the functionality of cryptocurrency.