MoonPay Launches Investment Arm MoonPay Ventures
Crypto on-ramp and payment solutions provider MoonPay has announced the launch of its investment arm, MoonPay Ventures. The firm aims to support early-stage startups in the web3 and financial technology sectors, providing not only investment but also mentorship and support from MoonPay and its extensive network of industry partners.
Key Points:
– MoonPay Ventures will focus on investing in early-stage startups specializing in web3 and financial technology.
– Startups will receive mentorship and support from MoonPay and its industry partners.
– MoonPay Ventures has already invested in several portfolio companies, including BCB Group, Brut, BeatClub, Absolute Labs, Create/OS, BridgeTower Capital, and Mythical Games.
– MoonPay CEO Ivan Soto-Wright emphasizes the importance of uplifting standout players in the ecosystem to drive mass Web3 adoption.
– MoonPay’s head of development, Abhay Malavankar, will lead MoonPay Ventures, bringing his experience from his previous role as head of venture investments and M&A at Cisco Investments.
Hot Take
MoonPay Ventures’ launch showcases MoonPay’s commitment to fostering the growth of the Web3 industry. By providing not only funding but also mentorship and support, MoonPay Ventures aims to accelerate the development of early-stage startups in the web3 and financial technology sectors. With its extensive industry network, MoonPay Ventures is well-positioned to contribute to the overall advancement and adoption of Web3 technologies.
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