Felix Capital, a London-based VC company, has raised $600 million in its fourth fundraising round, this being its biggest yet. The company, which has been investing in commerce and money-tooling startups, is planning to use part of the funds raised to increase its Web3 exposure as part of its new business strategy.
Venture capital firms from all over the world are now turning their eyes to Web3, a new field that intertwines the internet and crypto. One such firm has been Felix Capital, a London-based VC company that has expanded its business plan to include Web3 as part of its current interests. With its latest fundraising round, the company obtained $600 million, surpassing its initial goal of $500 million.
For the firm, this is its fourth and largest fundraise to date, bringing its total assets under management to $1.2 billion. In a blog post, the company explained that these funds will be used to back another 20 to 25 companies over the next couple of years, across Europe and North America.
We are expanding our areas of interest, planning to grow our exposure to Web3, a new platform for creativity, community, and of course entrepreneurship. The urgency to live a more sustainable lifestyle will be an increasingly central theme, in line with our mission to partner with founders who want to have a positive impact on the world.
Web3 is becoming a recurrent theme for VCs that want to expand their investment focus. Felix Capital is just one of the firms that has declared intentions to back companies in the Web3 environment, and a number of other firms have also pivoted part of their investments to this new field.
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