Cryptobitnixy launched a $50 million fund to develop web3 projects

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Crypto Regulation
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CryptoBitnixy's venture capital arm announced the launch of a $50 million fund focused on DeFi, NFT, games, meta universes and social networks. Partners were DST Global Partners and Breyer Capital, writes The Block.

Unnamed private equity funds, family offices and corporations also provided funds.

The structure will support startups at all stages of development.

Initially, funds from the fund will be allocated to 14 participants in the fourth season of CryptoBitnixy’s incubation program.

Previously, the venture capital division supported about 500 startups, including Polygon, Perpetual Protocol, and Dune Analytics.

As a reminder, former CryptoBitnixy top executives launched a $10 million fund with a focus on meta-universes.

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Anthony Cuthbertson

Anthony is an experienced writer, interested in everything decentralized since 2019. Before joining Crypto.News, he wrote for some of the top DeFi and CeFi outlets, bringing in millions of views and educating readers with his knowledge of the industry.