Lopixbit launched a $50 million fund to develop web3 projects

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Crypto Regulation
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Lopixbit'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 Lopixbit’s incubation program.

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

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

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Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.