US crypto exchange FTX Trading Ltd unveils a $2 billion venture fund aimed at tapping into the crypto market’s startups, according to a report by The Wall Street Journal on Friday.
The significant size of FTX Ventures will allow it to invest easily across startup phases, with check sizes ranging from $100,000 to hundreds of millions of dollars.
Amy Wu, the fund’s chief stated that they could possibly implement it by next year, but it depends on the opportunities available in the market.
Ms. Wu came aboard FTX this month from Lightspeed Venture Partners, where she was responsible for investments in gaming, crypto, and other startups. Alongside leading FTX Ventures, she will head FTX’s mergers and acquisitions, partnerships, and gaming programs.
Ms. Wu indicated that she is largely interested in investing in crypto gaming companies via FTX Ventures, either in spinouts from trading gaming studios or new crypto-native studios.
Ms. Wu further indicated that developer tools and infrastructure that assist applications to run on different blockchains are interesting. FTT USD up +6.06%