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Bulgaria-based Nexo to invest $150m in new venture capital fund

SOFIA (Bulgaria), March 30 (SeeNews) – Nexo, the Sofia-based digital asset platform, has announced the launch of an in-house investment and acquisition fund, Nexo Ventures, through which it will deploy 150 million dollars (134.8 million euros) in the long term. term investments in commercial and institutional projects in the start-up phase related to the main activity of the company.

Nexo Ventures will prioritize five investment areas, which are Web 3, decentralized finance (DeFi), metaverse, virtual worlds and play-t-earn games, non-fungible tokens (NFT), payment infrastructure and as well as compliance solutions, the company said in a statement last week.

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“Nexo Ventures aims to drive the continued adoption of digital assets and the expansion of the Web3 ecosystem. Additionally, our investment value proposition differs from most traditional investment funds. We are native and have a in-depth understanding of the digital asset industry and technology,” said Tatiana Metodieva, Head of Corporate Finance and Investments at Nexo.

The newly unveiled fund has already made its first investment, participating in a $9 million funding round last week by The TIE, a New York-based digital asset information services provider.

Founded in 2017, Nexo is a regulated cryptocurrency borrowing and trading platform, offering credit lines, trading and over-the-counter (OTC) capabilities, and a crypto wallet.

In December 2021, the company announced that it was the first crypto lender to introduce NFT-backed crypto credit, following its partnership with Singapore-based hedge fund Three Arrows Capital.

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