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Finance

Crypto.com Launches $200M Fund for Crypto Startups

The Hong Kong-headquartered cryptocurrency exchange has set up a new venture arm to invest the $200 million.

By Jamie Crawley
AccessTimeIconMar 4, 2021 at 9:00 a.m. UTC
Updated May 9, 2023 at 3:16 a.m. UTC
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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, the 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 between $3 million and $10 million at Series A.
  • According to Bobby Bao, Crypto.com co-founder and the new arm's chief, startups will rely on Crypto.com Capital to "move fast and provide both capital and access to a global user base."
  • Crypto exchanges having venture arms is far from unusual. Coinbase, Binance and Blockchain.com have all had investment wings for years.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.