01.17.2022

FTX Launches $2bn Ventures Fund

01.17.2022
FTX Launches $2bn Ventures Fund
  • FTX hires former Lightspeed Partner and Discovery, Inc executive Amy Wu to lead FTX ventures, M&A, and commercial initiatives
  • FTX Ventures launches with $2 billion in AUM
  • The Fund’s focus is investing in top teams building in web3, across social, gaming, fintech, software, and healthcare

FTX Trading Limited (“FTX”), announced the launch of FTX Ventures (“the Fund”), a $2 billion venture capital fund focused on backing the world’s best teams building in the digital asset ecosystem. FTX Ventures’ core mission is to advance global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare. The Fund will invest in multi-stage companies and projects, providing flexible funding and strategic support from FTX and its network of global partners.

“Our investors at FTX have made a deep impact in supporting our growth and development. We strive to do the same at FTX Ventures and are excited to find the brightest minds and disruptive innovation in tech,” says Sam Bankman-Fried.

Alongside the Fund’s launch, crypto investor Amy Wu joined FTX to lead Ventures, gaming, M&A and commercial initiatives. Amy was most recently a Partner at Lightspeed Venture Partners, a $10B+ multi-stage venture fund, where she led crypto and gaming investments, including the fund’s investment in FTX. She was previously an executive at Discovery, Inc., a global media company, where she led operations and finance across Asian markets, digital businesses, and sports.

Ms. Wu says, “I am thrilled to be joining FTX to work alongside Sam and some of the smartest people disrupting the financial services industry. With FTX Ventures, we are looking to support entrepreneurs building generational businesses. We’re particularly excited about web3 gaming and its ability to bring mainstream audiences into the ecosystem.”

FTX Ventures will launch with a team of eight, including General Partner Ramnik Arora, Advisor Armani Ferrante, and others.

Source: FTX

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