London-based VC Felix Capital has raised $600 million in its fourth funding round, its largest to date. The company, which has invested in commerce and money startups, plans to use some of the funds raised to increase exposure to Web3 as a new business strategy.
Felix Capital includes Web3 in its business plan
Venture capitalists around the world are now turning their attention to Web3, a new field involving the Internet and cryptography. One such firm is Felix Capital, a London-based VC firm that has expanded its business plan to include Web3 as part of its current interest. In its latest round of funding, the company has raised $600 million, surpassing its original goal of $500 million.
This is the company’s fourth and largest round of funding, bringing its total assets under management to $1.2 billion. The company explained on its blog that the funds will be used to support an additional 20-25 companies in Europe and North America over the next few years.
Regarding the inclusion of Web3 elements in its next investment, the company said :
We plan to expand our areas of interest and increase our exposure to Web3, a new platform for creativity, community, and of course entrepreneurship. The urgency of living 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.
Frederick Cote, president of Felix Capital,believes that the current market downturn will not affect their operationsbecause their investments are “essentially a long-term business and it takes a long time to build great companies.”
Explosion of Web3 Investments
Web3 is becoming a recurring theme for VCs looking to expand their investment universe. Felix Capital is one of the companies that has pledged to support companies in the Web3 environment, and many others are directing some of their investments into this new area.
On June 9, Solana Ventures, the investment arm of Solana, announced the allocation of $100 million to support innovative Korean Web3-based products and companies. Also on June 3, Binance Labs reported the launch of a $500 million fund focused on companies proposing to extend the capabilities of crypto using blockchain and Web3 technology.
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