Crypto.com Capital is expanding its $200 million Web 3 fund, and it has appointed Jon Russell as an Asia-based general partner (GP).
- The fund, currently run by Crypto.com co-founder Bobby Bao, is hiring more GPs around the world. Russell will help expand the fund’s exposure to Asia-based projects.
- Russell, a former technology journalist based in Bangkok where he wrote for Tech Crunch and The Ken, told CoinDesk Monday the fund is set to more than double its size. He said an announcement is expected in the coming days.
- Crypto.com Capital’s prior investments include Frax Finance and liquidity provider Woo Network.
- Asia is quickly developing an immense institutional appetite for digital assets.
- SCB 10x’s Chief Venture and Innovation Officer Mukaya Tai said she envisions a world where DeFi protocols removes banks as middlemen.
CORRECTION (Jan. 17, 06:20 UTC): Crypto.com reached out to clarify it will be giving Russell the title General Partner, not LP. An announcement earlier Monday said he had been named LP.
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