FTX launches $2 billion venture fund, hires Lightspeed exec to lead

From theblockcrypto.com

Sam Bankman-Fried's FTX has launched a new venture capital unit, adding billions of dollars in fresh capital to the already bloated private market for crypto investing. FTX — which has long made investments alongside its sister company Alameda — said in a press release that FTX Ventures aims to "advance global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare." FTX has set aside $2 billion for the venture fund. It has also hired Amy Wu, a former partner at $10 billion venture capital firm Lightspeed, to lead the new business unit and fund. In ... (full story)