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Felix Capital Raises $600 Million to Grow Web3 Exposure

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Felix Capital, a London-headquartered venture capital firm, has raised $600 million in what is its largest fundraising round so far. The company, which invests in commerce and fundraising start-ups, plans to use some of the funds raised to expand its Web3 presence as part of its new business strategy.

Felix Capital includes Web3 in the business plan

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Venture capital firms from around the world are now turning their attention to Web3, a new field that intertwines the Internet and cryptocurrency. One such firm was Felix Capital, a London-headquartered venture capital firm that expanded its business plan to include Web3 as part of its current interests. In the latest fundraising round, the company raised $600 million, surpassing its original $500 million goal.

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For the firm, this is the fourth and largest fundraiser to date, bringing its total assets under management to $1.2 billion. In a blog post, the company explained that the funds will be used to support another 20-25 companies over the next few years in Europe and North America.

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About incorporating Web3 elements into their next investment declared:

We are expanding our areas of interest, we plan to expand our familiarity with Web3, a new platform for creativity, community and, of course, entrepreneurship. The urgent need to lead a more sustainable lifestyle will become an increasingly central theme in line with our mission to partner with Founders who want to make a positive impact on the world.

Frederic Court, head of Felix Capital, believes that the current downturn in the market does not affect its operations, because the company’s investments are “in essence a long-term business, and it takes a long time to build a great company.”

Web3 investment explosion

Web3 is becoming a constant topic for venture capitalists looking to expand their investment focus. Felix Capital is just one of the firms that have announced their intention to support companies in the Web3 environment, and a number of other firms have also directed some of their investments into this new area.

On June 9, Solana Ventures, Solana’s investment arm, announced a $100 million commitment to support innovative Web3-based products and companies in South Korea. Also on June 3, Binance Labs announced the launch of a $500 million fund focused on companies offering to extend the functions of cryptocurrency using blockchain technology and Web3.

What do you think of the $600 million Web3 Felix Capital fund? Tell us in the comments section below.

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Credit : news.bitcoin.com

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