Web3 infrastructure company MoonPay has launched its investment arm MoonPay Ventures to enable the company to collaborate and support startups to drive industry-wide value as well as promote Web3.
MoonPay Ventures will invest in early-stage companies in the Web3 and fintech spaces, working with innovative teams who are building Web3 experiences that focus on augmenting and transforming existing business models.
In addition to providing capital, MoonPay Ventures will offer its portfolio companies access to its network of teams, ideas, emerging business models, and even go-to-market playbooks in the Web3 space.
Ivan Soto-Wright, CEO and co-founder of MoonPay says, “It takes big ideas to change how the world interacts with Web3, and we are witnessing breakthrough companies push the boundaries of innovation every day. As we continue building at MoonPay, we’re also committed to uplifting the standout players in our ecosystem so we can collectively work toward mass Web3 adoption.
“Launching MoonPay Ventures is a major milestone in bringing this vision to life and allows us to leverage our resources to support our portfolio companies, and in turn, the Web3 industry as a whole,” said the CEO.
Supporting Web3 Innovators
The company’s new venture arm will also utilise its experience and resources to provide startups with guidance, industry knowledge, and access to its network of over 500 partners in the Layer 1 and Layer 2 blockchains, wallets, exchanges, and marketplaces. This will help startups develop and scale their projects, ultimately contributing to the growth and adoption of Web3 technology.
MoonPay Ventures will be a part of the company’s Corporate Development team and will be headed by Abhay Mavalankar who joined MoonPay after a decade in investment banking and venture capital at Morgan Stanley, Centerview, and Cisco Investments
“Given our position in the payments and Web3 stack, we are uniquely positioned to identify and invest in the most promising projects and teams and we look forward to collaborating with these innovators to create a more accessible financial future for all,” said Mavalankar.
MoonPay Ventures has already made investments in various companies including BCB Group, BRUT, BeatClub, Absolute Labs, Create/OS, BridgeTower Capital, and Mythical Games.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
