MoonPay launches a new investment project: Ventures
MoonPay Ventures: Investing in Web3 and FinTech startups to drive innovation with a portfolio of over 25 companies.
MoonPay, a leading figure in crypto payment solutions, has recently broadened its scope by launching MoonPay Ventures. This investment arm is not merely a diversification tactic but a planned initiative to nurture innovation in the Web3 and FinTech sectors.
MoonPay has been a prominent player in the crypto payment solutions market, boasting a customer base of over 5 million and collaborations with more than 500 industry players. The introduction of MoonPay Ventures is a strategic initiative aimed at investing in startups specializing in Web3 and financial technology. MoonPay CEO Ivan Soto-Wright has described this new venture as a "major milestone" for the company, enabling MoonPay to utilize its resources to back portfolio companies and, in turn, the broader Web3 industry.
The timing of this launch is particularly noteworthy. MoonPay, valued at $3.4 billion, is entering the investment sector at a time when the Web3 and FinTech sectors are experiencing exponential growth. This move could position MoonPay as a significant influencer in these growing markets.
MoonPay Ventures is particularly interested in early-stage startups in three main sectors:
- Adjacent FinTech sectors
MoonPay Ventures will invest off its balance sheet, focusing on commercial ROI. This strategy ensures that the investment arm is not just a capital provider but is also seeking a return on investment that aligns with MoonPay's broader business objectives.
MoonPay Ventures plans to invest between $100,000 and $1 million in seed and Series A rounds. This financial commitment is designed to give startups the capital they need to scale and innovate. The investment arm already boasts a portfolio that includes over 25 companies.
MoonPay Ventures aims to offer more than just financial backing. The investment arm plans to provide operational support in areas like scaling, distribution, and sales cycles.
MoonPay's head of development, Abhay Malavankar, will lead MoonPay Ventures. Malavankar joined MoonPay in July 2022 after serving as the head of venture investments and M&A at Cisco Investments. His experience in investment banking and venture capital is expected to bring tangible value to portfolio companies.
The MoonPay executive team, with its extensive experience and industry connections, aims to deliver tangible value to portfolio companies.
MoonPay Ventures has already made investments in several companies, including:
- BCB Group
- Absolute Labs
- BridgeTower Capital
- Mythical Games
MoonPay Ventures Platform
With its extensive network of over 500 industry partners, including leading blockchains, marketplaces, wallets, and exchanges, MoonPay Ventures is well-positioned to drive industry-wide value and promote the adoption of Web3 technology.