There’s good news for aspiring crypto entrepreneurs, following the announcement that Crypto.com will invest $200 million in promising startups.
In a move to attract the next crypto or blockchain unicorn, the funds have been set aside via its investment arm Crypto.com Capital for companies at the seed or Series A stages.
'Founders Can Count on Us'
In a blog post published today, Kris Marszalek, Crypto.com’s co-founder and CEO, said:
“Crypto.com Capital gives founders building in the crypto industry two things: a reputable lead investor for their seed or Series A rounds, and priority of launch on the world’s fastest-growing retail crypto platform with over 10 million users. Crypto.com Capital will lead seed rounds with cheque sizes between $100,000 and $3 million, and Series A rounds from $3 million to $10 million. We’re looking for long-term partnerships with entrepreneurs in every sector of the cryptocurrency industry, so we can advance it together.”
Co-founder Bobby Bao commented on the funding allocation by saying:
“The motto and operating principle of Crypto.com Capital is ‘Founders First.’ As company builders ourselves, we understand how hard it is to bring game-changing ideas to life. Founders can count on us to move fast and provide both capital and access to a global user base, helping them succeed.”
This wouldn’t be the first time that a crypto exchange has branched out into investing in rising crypto stars, with Coinbase and Binance also having an investment wing.
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