Payments Firm Stronghold Launches $100M Investment Fund Aimed at Fintech and Web 3
Stronghold Capital has already invested in Sam Bankman-Fried’s Alameda Research, and Precursor Ventures.
Payments and financial infrastructure firm Stronghold’s investment fund – Stronghold Capital – will focus on the areas of overlooked and underrepresented founders and fund managers, the payments and fintech ecosystem, and the Web 3 and blockchain ecosystem.
The fund has already put money to work in Sam Bankman-Fried’s Alameda Research via a decentralized finance (DeFi) syndicated loan through Maple Finance. Another early investment is in Precursor Ventures, which looks to take stakes in companies whose founders identify as women, LGBTQ+ or BIPOC.
"Stronghold Capital will create opportunities to develop new products and business models that improve financial infrastructure for everyone," said Tammy Camp, CEO of Stronghold, in the press release. Camp will also be the fund manager for the new capital arm. “Identifying and investing in emerging talent – especially underrepresented and undervalued founders – stands to benefit the developer community, the fintech industry and even society as a whole.”
Stronghold’s SHx token was launched in 2018 to provide real-time settlement, discount in fees for business customers, rewards, and merchant cash advances. It was listed on Kucoin exchange this week.
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