With their fund of 100 million euros, Cathay Innovation and Ledger wish to invest in the young shoots of Web3, as well as those working on cryptocurrencies, decentralized finance (DeFi), blockchain or even NFTs.
The French Web3 ecosystem continues to be structured. The day after the announcement of a funding round of 40 million from Coinhouse to expand into this sector announced as the next major change in the web, the Cathay Innovation fund and the start-up Ledger have decided to join forces. to set up a 100 million euro investment fund.
Supported by Bpifrance, it aims to invest in young Web3 shoots, as well as those working on cryptocurrencies, decentralized finance (DeFi), blockchain or even NFTs. In this context, the investment vehicle plans to inject tickets of between 500,000 and 5 million euros, in seed and in series A.
“Building the tokenized world of tomorrow together”
“Over the next 15 years, we will see widespread tokenization as blockchain transforms existing asset classes by adding programmability, trust, security and digital ownership, which cannot happen in silos.explains Denis Barrier, co-founder of Cathay Innovation. As a historical Ledger investor, we have identified a unique opportunity to connect the ecosystem more broadly and build the tokenized world of tomorrow together.”
Prior to this fund launched by Ledger and Cathay Innovation, the Binance cryptocurrency exchange platform announced a few days ago that it had created a $500 million fund to support companies operating in blockchain and Web3. In the same vein, the famous North American fund Andreessen Horowitz indicated at the end of May that it had raised 4.5 billion dollars to supply a fund dedicated to start-ups specializing in cryptocurrencies. Football player Blaise Matuidi, world champion with the Blues in 2018, has also launched an investment fund to support start-ups in Europe and the United States in sectors such as Web3, cryptocurrencies or even the video game.