Felix Capitals in recent times has been raising funds to support technologies and companies but the $600 million funding aims to fund web3 development.
Felix Capital, a London-based venture capital firm, announced the results of their fourth fundraising round, which resulted in $600 million funds being raised to invest in cryptocurrency and web3.
According to their statement, the $600 million will be used to fund the development of web3. They are looking to fund approximately 20 – 25 other companies in their early and growth stages, primarily in North America, to promote cultural diversity and exposure to emerging consumer needs.
Felix Capital was founded in 2015 and has raised more than $1.2 billion in seed capital. According to the firm’s founder and managing partner, Frederic Court, their vision is to “establish that the rapid transformation of consumer behavior represents a massive opportunity and needed focus.”
Felix Capital appears to have built a strong portfolio with its vision in mind over the years and has successfully built long-term relationships with brands.
It appears that Felix Capitals is not the only shark interested in the digital sea of cryptocurrency. A study conducted by CB insights, a business analytics platform, revealed a 713 percent increase in VC funding invested in blockchain startups over the last year.
According to an interview between Cointelegraph and Chris Bendsten, a senior analyst at CB insights, blockchain is not the only category covered in this report; other digital entities such as DeFi, NFT, and cryptocurrency are also included in the research analysis.
According to Chris’s report analysis, the largest and most significant amount of funding deals were closed in the fourth quarter of 2021. A total of 157 transactions totaled $6.26 billion.