Crypto.com Launches $200M Fund for Crypto Startups

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Crypto.com is launching a $200-million fund dedicated to investing in crypto startups, CoinDesk can exclusively reveal.

  • To lead the effort, Hong Kong-headquartered cryptocurrency exchange announced the launch of a new venture arm, CRYPTO.COM Capital, on Thursday.
  • The firm has earmarked $200 million for the venture arm to invest in crypto startups and projects at seed and Series A stages.
  • Crypto.com Capital will lead funding rounds with investments of between $100,000 and $3 million at seed stage and $3-10 million at Series A.
  • The fund will also seek investment from the platform's 10 million users.
  • According to Bobby Bao, Crypto.com co-founder and the new arm's head, startups will rely on Crypto.com Capital to "move fast and provide both capital and access to a global user base."

See also: Crypto.com to Burn 70B CRO Tokens Ahead of Full Blockchain Launch Next Month

 https://www.coindesk.com

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