NFX on Tuesday announced that it has created a $450 million fund devoted to crypto and tech development. Venture firm NFX plans to increase its support for pre-seed-stage and seed-stage companies. This includes companies in the crypto sector. In a press release, NFX stated that new funds will further promote the crypto space. Fund 3, also known as Fund 3, will support approximately 70 companies that specialize in the fintech, marketplaces and gaming sectors. Fund 3 will also increase investments in crypto-biotech.
NFX invited Morgan Beller to join in September 2013 as a general partner. Beller was the co-creator and leader of the stablecoin project Diem, formerly Libra. This initiative was led by Facebook. Beller released a statement expressing his joy at joining NFX. Beller stated that the company’s knowledge of crypto and network effects gives it leverage. Beller said, “No one understands that better than the NFX staff.”
NFX has also participated in several crypto funding rounds, including Ramp’s June raise of $9 million. According to Ryan Weeks, The Block’s Ryan Weeks, Ramp has a $300 Million valuation. Balderton Capital, a British venture capital firm, is the lead investor in the round. Ramp’s headquarters are in London, but most of its operations are based out of Poland.
