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Ledger and Cathay Innovation launched € 100 million crypto fund
The manufacturer of the Ledger Crypto Crypto -Shit and Cathay Innovation launched a fund of € 100 million for investment in the startups of the Web 3 sphere.0.
The structure was supported by the French State Investbank BPIFRANCE and several other companies, the co -founder of Cathay Innovation Denis Barrya told The Block. He refused to call them, referring to the considerations of confidentiality.
Ledger Cathay Capital invests in startups from Defi sectors, security, infrastructure and digital property technology in the early stages. The fund was only created and did not have time to make any investments, Barrier said.
Regarding the market conditions in which Ledger Cathay Capital begins to work, he noted that the company considers Web 3.0 as a developing sphere and “investment opportunity for decades”.
“We have no plans to slow down or reduce our investment activity. We believe that current conditions are a real opportunity for us to create a fund and actively invest in cryptocurrency startups, ”Barrier said.
Chairman and CEO Ledger Pascal Gauthier agreed with his opinion, noting that the fund would actively support projects “creating a decentralized future for the upcoming billion users”.
Ledger is a portfolio company Cathay Innovation. Venturenaya company took part in three rounds of financing, including a series C.TH $ 380 million in June 2021. According to its results, the producer of wallets was estimated at more than $ 1.5 billion.
Earlier, Ledger himself invested in several cryptocurrency startups. Now the created fund will be engaged in the management of these https://gagarin.news/ru/events/ assets.
According to Barry, Ledger Cathay Capital will support transactions with both shares and tokens with an average size of € 500,000 to € 4 million. The fund is aimed at the purchase of 20-25 portfolio companies in two to three years.
Recall, in April, Dragonfly Capital launched an investment fund or $ 650 million on Web3-start-ups.