MoonPay unveiled its investment arm, MoonPay Ventures, on August 29, which will help support early stage startups in Web3, gaming and adjacent fintech sectors.
MoonPay Ventures aims to allocate investments ranging from $100,000 to $1 million, specifically targeting early stage and Series A funding rounds. With a portfolio of more than 25 companies, including names such as BCB Group, Ledger, BRUT and Mythical Games, MoonPay Ventures demonstrates its commitment to supporting pioneering ventures in this dynamic landscape.
Best known for building robust payment ecosystems for the crypto space, the next-gen infrastructure company is currently valued at $3.4 billion and boasts more than 5 million customers.
In May, MoonPay publicly launched its mobile app in more than 130 countries, providing its entire customer base with an “all-in-one platform” for Bitcoin holders to view their transactions and price history.
Since its inception in 2019, it has built partnerships with over 500 industry players, including crypto wallets, layer-1 and layer-2 blockchains, and supports a comprehensive portfolio of over 80 assets.
So says Abhay Mavalankar, vice president of business development and investment at MoonPay TechCrunch that the investment approach will have a clear ‘commercial ROI’ orientation.
While there is no predetermined fund amount, Mavalankar said the MoonPay Ventures team will operate with the clear intention of contributing to the growth of the ecosystem.
Regarding the investment philosophy, Mavalankar emphasized the paramount importance of the teams behind the startups. He underlined the focus on execution power and the ability to deliver exceptional user experiences. This approach reflects MoonPay Ventures’ determination to nurture companies that can turn promising ideas into tangible realities.
Mavalankar emphasized that this strategic leap into venture capital is a natural extension of MoonPay’s maturation and commitment to supporting innovative founders and embracing the ethos of what Web3 chooses.
In addition to the capital injection, MoonPay Ventures has ambitious goals to accelerate the adoption of its portfolio companies. This extends to aspects such as scaling, distribution and streamlining sales cycles.
The launch of MoonPay Ventures undoubtedly heralds a new chapter in MoonPay’s journey, bringing new capital and expertise into these ever-expanding industries fueled by today’s emerging technologies.
Editor’s note: This article was written by a staff member of nft now in collaboration with OpenAI’s GPT-4.