FTX launches $2 billion "FTX Venture" fund focusing on Web3, managed by Amy Wu, partner of a multi-billion dollar fund.

FTX announced the launch of a $2 billion FTX Ventures fund, focusing on investments in the Web3 space, including social platforms, gaming, fintech, healthcare, and software engineering, with former Lightspeed Ventures executive Amy Wu leading FTX Ventures.

FTX announced today (14th) the launch of the " FTX Venture Fund ". The FTX Venture Fund has an asset management scale of $2 billion. Its core value is to drive the large-scale application of global blockchain and Web3, provide strong support for excellent teams in the digital asset ecosystem, and focus on investing in the Web3 field, including community platforms, games, fintech, medical, and software engineering.

In order to realize the core value of FTX Venture, FTX has recruited well-known crypto investor Amy Wu as the helm of the venture fund.

Amy Wu previously was a partner at Lightspeed Venture Fund with assets totaling billions of dollars and also served as the Chief Financial Officer and Vice President of Business Operations for Discovery Asia at global media company Discovery.inc.

During her time at Lightspeed Venture Fund, Amy Wu led investments in the crypto and gaming sectors, including facilitating Lightspeed's investment in FTX, facilitating collaboration between Lightspeed and Solana Ventures, and FTX, jointly launching a $100 million investment fund to inject funds into the GameFi sector.

During her tenure as Chief Financial Officer of Discovery Asia, she led operations and finance in the Asian market, digital business, and sports sectors, and also participated in investments in companies like Zumba and DrillingInfo.

Amy Wu stated:

"I am excited to join FTX and work with Sam and the most outstanding people in this field to transform the financial services industry together.

Through FTX Venture, we will bring the web3 gaming ecosystem into the mainstream view. This core mission excites us greatly, and we are eager to find potential entrepreneurs to help them build business applications and ventures together."

According to the press release, the FTX Venture Fund will establish an eight-person team, with Ramnik Arora, head of FTX's product department, serving as a partner of FTX Venture, and Armani Ferrante, a software development engineer at affiliated company Alameda Research, serving as an advisor.

FTX founder Sam Bankman-Fried stated that FTX Venture will focus on investing in startups in the web3 field, not only providing funds but also offering other strategic resources from FTX and FTX's global strategic partners.

SBF stated:

"Our rapid growth and expansion in recent times have been greatly influenced by the help and support of FTX investors, and now we aim to do the same in FTX Venture.

To achieve our goals, we will find startups with revolutionary innovations in the technology sector and collaborate with industry leaders in this vision, which excites the FTX team greatly."