Lightspark Backer Felix Capital Raises $600m To Support Crypto And Web3 Projects

Based on a current announcement, the London-based VC is focusing on “long-term” investments in commerce and fintech corporations. With the brand new funding, the agency is seeking to double down on current investments, in addition to assist rising startups. It additionally plans on including in new hires as companions, buyers, and advisers.

So far as environmental conservation goes, Felix is without doubt one of the corporations seeking to promote sustainability.

Felix Raises $600M to Again Crypto, Web3 Tasks

Felix Capital is without doubt one of the distinguished buyers backing the brand new David Marcus Bitcoin startup. The previous Diem stablecoin undertaking lead launched a brand new agency – Lightspark – in Could, aiming to discover the utilities and capabilities of Bitcoin’s Lightning Community. The VC has additionally funded Sorare – a world fantasy soccer recreation the place gamers can commerce digital collectibles.

Outdoors crypto, the agency’s portfolio consists of main firms like on-line meals supply agency Deliveroo, and transportation firm Dott. One other is Moonbug Leisure (creator of the Cocomelon children channel), amongst many others.

Felix Capital now hopes to extend its portfolio depend to between 20-25 firms based mostly in Europe or North America.

Of word, the latest fundraising is the agency’s fourth and largest but, bringing the entire quantity raised to $1.2 billion. The Frederic Courtroom-led agency is transferring in leaps and bounds, contemplating it launched with $120 million in 2015. Much more, its preliminary capital goal was simply $500 million.

Crypto and Internet 3.0 Investments

Currently, the crypto market has been in a somber temper, with most cryptocurrencies buying and selling nicely under their all-time highs. Occasions such because the Russia-Ukraine battle and Fed rate of interest hikes have induced financial knock-on results, reverberating by all types of finance.

However even then, it appears enterprise capitalists’ actions are removed from subsiding, particularly in issues of crypto and Web3. In April, the VC Andreessen Horowitz (a16z) created a crypto analysis staff to look into Web3. A month prior, ex-a16z associate Katie Haun raised $1.5 billion to spend money on crypto, NFT, and Web3 initiatives. She grew to become the primary feminine founding associate to draw such a staggering quantity.

In its Q1, 2022 report, VC database PitchBook famous that the “variety of European VC automobiles fell drastically.” Much more, the variety of funds launched this yr “could be the bottom since 2013.” On the optimistic aspect, PitchBook says VC exercise in Europe in Q1 was at tempo with that of the identical interval final yr.


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