FTX Ventures

FTX Ventures was the venture capital arm of the now-defunct cryptocurrency exchange FTX, launched in January 2022 with a substantial $2 billion fund. Headed by Amy Wu, formerly of Lightspeed Venture Partners, the firm was established to strategically invest in the burgeoning blockchain and Web3 ecosystem. Its mandate was broad, aiming to deploy capital across various stages and check sizes, from early-stage startups to mature companies, reflecting the aggressive expansion strategy of its parent company.

The firm's investment thesis centered on supporting companies building foundational infrastructure, applications, and services within the blockchain, Web3, gaming, and fintech sectors. FTX Ventures quickly became a prominent and active player in the crypto venture landscape, making numerous high-profile investments in a short period. Notable portfolio companies included Mysten Labs, where it participated in a $200 million funding round, and Aptos, which secured a $150 million investment. The firm also led a $100 million round for GameStop's NFT marketplace, demonstrating its willingness to lead significant capital commitments.

FTX Ventures was characterized by its flexibility in investment size and stage, although its public activity often highlighted participation in large, multi-million dollar rounds. The substantial capital pool of $2 billion allowed the firm to write significant checks, positioning it as a major source of funding for promising blockchain projects globally. Its strategy was to not only provide capital but also leverage the FTX ecosystem to support its portfolio companies.

However, the operational lifespan of FTX Ventures was brief. Following the dramatic collapse and bankruptcy filing of its parent company, FTX, in November 2022, FTX Ventures ceased all new investment activities. Its assets and future operations became entangled in the complex bankruptcy proceedings, effectively ending its tenure as an active venture capital firm. Consequently, it is no longer an active investor in the market.