Infinity Ventures Crypto, a Taipei-based Web 3 investor, announced on Tuesday that it has raised $70 million from investment firms, including Circle, Digital Currency Group (DCG) and Animoca Brands.
Infinity Ventures disclosed that it plans to use the fresh funding to deploy startups in North American, South American and Asian markets in its first fund deal. Additionally, the crypto firm elaborated that it intends to use the funds to develop and accelerate the growth of decentralized finance (DeFi), global GameFi and Web3 innovations with the aim of bridging the gap between the markets in the West and East, especially in Southeast Asia.
Brian Lu, a partner at Infinity Ventures Crypto, said: “As a bridge between the East and West, we take a boots-on-the-ground approach by assembling teams of local experts to stoke the growth of our portfolio companies. We're proud to be off to a fast start and are excited to share our expertise with more innovators.”
Lu mentioned that the funding is oversubscribed, but the company does not want it to grow too big because Web 3 firms look for smaller rounds. He highlighted that Web 3 companies normally look to raise only $1 million or less, and the average size of the funds could be in the range of $250,000.
Lu said that Infinity Ventures has already deployed 30% of the funds and has completed 80 deals.Established in August 2021, Infinity Ventures has already injected funds and its expertise into 78 portfolio companies. The company aims to leverage its global network to empower blockchain startups across the world, including those in the US, Taiwan, Southeast Asia, Japan and others.
Empowering Web 3.0, DeFi Mass Adoption
As highlighted above, Infinity Ventures Crypto is working on bringing Web3 and decentralized finance to higher levels. Further, funding launches are under its belt to tap the potential surrounding Web3.0, metaverse and DeFi, while applications and infrastructure projects it sees as key investable sectors.
2021 was a landmark year for the Web 3.0 ecosystem and the global digital asset market. It was the year when digital assets emerged as one of the hottest alternative investments. Coinbase, the biggest US crypto exchange, made its public market debut on the Nasdaq in April last year. It was a breakthrough for digital assets investors as well as the emergence of the Metaverse, Web3, NFTs and GameFi innovations.
