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Lightspark Backer Felix Capital Raises $600M to Support Crypto and Web3 Projects

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London-based venture capital is targeting “long-term” investments in commercial and fintech firms, according to a recent announcement. With the new funding, the firm hopes to double existing investments as well as support new startups. It also plans to hire new employees as partners, investors and consultants.

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With regard to environmental protection, Felix is ​​one of the firms committed to promoting sustainable development.

Felix raises $600M to support Crypto and Web3 projects

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Felix Capital is one of the prominent investors backing David Marcus’ new bitcoin startup. Former stablecoin project lead Diem launched a new firm, Lightspark, in May, looking to explore the utilities and capabilities of Bitcoin’s Lightning network. The venture fund has also funded Sorare, a global fantasy football game in which players can trade digital collectibles.

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Outside crypto firm portfolio includes leading companies such as online food delivery Deliveroo and transport company Dott. The other is Moonbug Entertainment (creator of the children’s channel Cocomelon) and many others.

Felix Capital now hope increase the number of their portfolios to 20-25 companies based in Europe or North America.


It should be noted, latest fundraiser is the fourth and largest firm, bringing total funds raised to $1.2 billion. The Frederick Kort-led firm is moving forward by leaps and bounds considering it launched with $120 million in 2015. Moreover, her initial target capital was only $500 million.

Investing in Cryptocurrency and Web 3.0

The cryptocurrency market has been in a gloomy mood lately, with most cryptocurrencies trading well below their all-time highs. Events such as the Russian-Ukrainian conflict and the Fed’s interest rate hike have created a domino effect across all forms of funding.

But even then, it seems that venture capital activity is far from abating, especially in the areas of cryptography and Web3. In April, venture capitalist Andreessen Horowitz (a16z) created a group of crypto researchers to explore Web3. A month earlier, former a16z partner Kathy Haun raised $1.5 billion to invest in crypto, NFT and Web3 projects. She became the first female partner to receive such a staggering amount.

In its report for the first quarter of 2022, the venture capital database PitchBook noted that “the number of venture capitalist vehicles in Europe has dropped dramatically.” What’s more, the number of funds launched this year “may be the lowest since 2013.” On the positive side, PitchBook notes that venture capital activity in Europe in the first quarter was the same as in the same period last year.

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