crypto fund
CrossTower to acquire institutional prime brokerage BEQUANT
Cryptocurrency exchange CrossTower Inc has agreed to buy digital asset trading platform BEQUANT, which comes after months of window shopping by CrossTower for crypto companies, including a recently revised offer for Voyager Digital’s assets. The Nov. 28 acquisition will provide CrossTower with over 600 new professional exchange clients in addition to its existing clientele. The incoming clients are based across the United States, Europe, Asia, and Latin America and are collectively making over $400 billion annually. The purchase comes as CrossTower CEO Kapil Rathi stated on Nov. 24 that CrossTower has long been on the lookout to buy digital asset companies with a “good set of customers” and a “good balance sheet,” which included a second look at the now-bankrupt cryptocurrency lendin...
$3B flows to Metaverse and Web3 gaming this month as A16z’s tips in $600M
Venture capital firm Andreessen Horowitz (a16z) has launched a $600 million fund dedicated to gaming startups with a focus on Web3 saying it believes “games infrastructure and technologies will be key building blocks of the Metaverse.” Dubbed “GAMES FUND ONE” the fund will invest in three main areas: game studios, consumer applications which support player communities with Discord used as an example, and gaming infrastructure providers. The a16z team said “the coming Metaverse will be built by games companies, using games technologies” and that the industry has already “solved many of the problems that need to be solved to create the Metaverse.” It believes games will become the “dominant way people spend time.” The move by a16z marks nearly $3 billion committed by venture funds and gaming...
Crypto venture capital firms see surging assets under management
Venture capital (VC) firms focused on Web3 projects and crypto businesses are accumulating billions of dollars worth of assets under management as more capital is injected into the sector. The assets under management figure for Web3 and crypto investment firm Paradigm has recently been revealed. Filings show that the firm has $13.2 billion in assets, a growth of 343% compared to the $2.98 billion reported in a filing in December 2020. The filings were reviewed by business journalist Eric Newcomer. Writing for his newsletter, he looked at recent applications with the U.S. Securities and Exchange Commission (SEC) for some of the biggest venture capital firms in the Web3 and crypto sectors. To be registered as an “investment advisor,” these firms must disclose their regulatory assets under ma...
Crypto investor Katie Haun raises $1.5 billion for Web3 venture fund
Katie Haun, crypto investor and board member for Coinbase and OpenSea announced that she had raised $1.5 billion for her new fund, Haun Ventures. On Tuesday, March 22, Haun posted an article on Twitter, briefly introducing the firm and sharing that the funds would be used to invest in Web3 projects. Introducing @HaunVentures, a firm built for the next generation of the internet. We’ve raised $1.5 billion across two funds to invest in web3. An exciting first step, but the real work begins now. https://t.co/tBeE4OEJkD — Kathryn Haun (@katie_haun) March 22, 2022 The firm will invest through two funds, a $500 million early-stage fund, and a $1 billion acceleration fund. The two funds represent the largest debut on record for investment vehicles led by a female General Partner, according to dat...
