{"id":21719,"date":"2023-08-30T16:41:21","date_gmt":"2023-08-30T16:41:21","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/moonpay-launches-venture-division-for-web3-startups\/"},"modified":"2023-08-30T16:41:24","modified_gmt":"2023-08-30T16:41:24","slug":"moonpay-launches-venture-division-for-web3-startups","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/moonpay-launches-venture-division-for-web3-startups\/","title":{"rendered":"MoonPay Launches Venture Division For Web3 Startups"},"content":{"rendered":"
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MoonPay unveiled its investment arm, MoonPay Ventures, on August 29, which will help nurture early-stage startups spanning Web3, gaming, and adjacent fintech sectors. <\/p>\n

MoonPay Ventures aims to allocate investments ranging from $100,000 to $1 million, specifically targeting seed and Series A funding rounds. With a portfolio boasting over 25 companies, including names like BCB Group, Ledger, BRUT, and Mythical Games, MoonPay Ventures is demonstrating its commitment to backing pioneering ventures in this dynamic landscape.<\/p>\n

The next-gen infrastructure firm, best known for building robust payment ecosystems for the crypto space, is currently valued at $3.4 billion and boasts more than 5 million customers.\u00a0<\/p>\n

In May, MoonPay publicly launched its mobile app in over 130 countries, offering its entire customer base an \u201call-in-one platform\u201d for Bitcoin holders to see their transactions, and pricing history.<\/p>\n

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1\ufe0f\u20e3\/ Today, we unveil MoonPay Ventures\ud83c\udf89! Our investment arm is committed to MoonPay\u2019s mission \u2013 forging vital infrastructure for leading wallets, exchanges, and brands \u2013 all accelerating Web3 adoption \ud83e\udd73 pic.twitter.com\/DcDevCLLdw<\/a><\/p>\n

\u2014 MoonPay \ud83d\udfe3 (@moonpay) August 29, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Since its 2019 inception, it has garnered partnerships with over 500 industry players, spanning crypto wallets, layer-1 and layer-2 blockchains, as well as supporting a comprehensive portfolio of over 80 assets.\u00a0<\/p>\n

Abhay Mavalankar, VP of corporate development and investments at MoonPay told TechCrunch <\/em>that the investment approach will have a distinct \u201ccommercial ROI\u201d orientation.\u00a0<\/p>\n

While there isn\u2019t a predefined fund amount, Mavalankar said that the MoonPay Ventures team will operate with a clear intention of contributing to the ecosystem\u2019s growth.<\/p>\n

In terms of investment philosophy, Mavalankar highlighted the paramount significance of the teams behind the startups. He underlined the focus on execution prowess and the ability to deliver exceptional user experiences. This approach reflects MoonPay Ventures\u2019 determination to foster ventures that can transform promising ideas into tangible realities.<\/p>\n

Mavalankar stressed that this strategic leap into venture investing is a natural extension of MoonPay\u2019s maturation and dedication to supporting innovative founders and embracing the ethos of what Web3 opts to stand for.<\/p>\n

Beyond the infusion of capital, MoonPay Ventures has ambitious goals to expedite adoption for its portfolio companies. This extends to aspects such as scaling, distribution, and streamlining sales cycles.\u00a0<\/p>\n

The launch of MoonPay Ventures undoubtedly heralds a new chapter in MoonPay\u2019s journey, infusing fresh capital and expertise into these ever-expanding industries, fueled by today\u2019s emerging technologies.<\/p>\n

Editor\u2019s note: This article was written by an nft now staff member in collaboration with OpenAI\u2019s GPT-4.<\/em><\/p>\n<\/p><\/div>\n