EU launched a new $350 million fund for development of Web3


London-based asset management company Fasanara Capital has created a new $350 million venture fund focused on the fintech and Web3 sectors. Representatives of the organization assured that they will actively invest in promising startups in the field of blockchain and cryptography. At the moment, the firm already manages digital assets worth more than $3.5 billion, and also has a team engaged in arbitrage trading in virtual currencies and a department responsible for lending crypto assets.

Fasanara Capital began to actively inject funds into the cryptocurrency sector in 2019. The management switched to venture investment, taking part in 27 rounds of financing in the fintech industry in the territory of the European Union. The most significant was the leadership in the $35 million Series A fundraising for Twig. The organization headed it by investing in a startup that builds a green infrastructure for crypto payments.

The CEO of Fasanara Capital, Francesco Filia, assured that his company was gaining a reputation as one of the leaders in this field. According to him, recently there has been a huge flow of interest in the cryptocurrency sector from both retail and institutional investors. The company wanted to benefit from this and that is why it formed a new fund.

Filia stressed that venture investments in cryptocurrency have not declined in 2022, despite the bear market and the fact that the value of bitcoin (BTC) and ether (ETH) has fallen by more than 50% since the beginning of this year.

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