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.

AccessTimeIconMar 4, 2021 at 9:00 a.m. UTC
Updated Sep 14, 2021 at 12:21 p.m. UTC

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
July Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
2
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
3
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown
4
CoinDesk - Unknown
Cosmos-Builder Ignite Cuts Headcount by More Than 50%, Ex-Employees Say

The reductions come amid a crypto market crash, and after the return of Ignite’s controversial ex-CEO.

CoinDesk - Unknown