On August 29, MoonPay introduced its investment arm, MoonPay Ventures, with a clear mission to empower early-stage startups in the realms of Web3, gaming, and adjacent fintech sectors.
MoonPay Ventures is set to deploy investments ranging from $100,000 to $1 million, with a primary focus on seed and Series A funding rounds. Its impressive portfolio already comprises more than 25 companies, featuring notable names like BCB Group, Ledger, BRUT, and Mythical Games. This showcases MoonPay Ventures’ unwavering commitment to championing groundbreaking initiatives within this rapidly evolving landscape.
MoonPay, renowned for constructing robust payment ecosystems in the cryptocurrency space, currently boasts a valuation of $3.4 billion and serves a substantial customer base exceeding 5 million users.
In May, MoonPay made a significant stride by launching its mobile app in over 130 countries, offering Bitcoin holders an all-encompassing platform to monitor their transactions and pricing history.
Since its inception in 2019, MoonPay has cultivated partnerships with over 500 industry leaders, spanning crypto wallets, layer-1 and layer-2 blockchains, and supporting a diverse portfolio of more than 80 assets.
Abhay Mavalankar, the VP of corporate development and investments at MoonPay, emphasized that MoonPay Ventures will be driven by a distinct focus on “commercial ROI.” Although there isn’t a predefined fund size, Mavalankar assured that the MoonPay Ventures team will actively contribute to the ecosystem’s growth.
In terms of their investment philosophy, Mavalankar stressed the paramount importance of the startup teams. He emphasized their execution capabilities and their ability to deliver exceptional user experiences. This philosophy underscores MoonPay Ventures’ determination to empower ventures capable of turning promising concepts into tangible realities.
Mavalankar highlighted that this strategic foray into venture investing is a natural progression of MoonPay’s evolution, a testament to its dedication to supporting visionary founders and embracing the ethos of what Web3 represents.
Beyond providing capital, MoonPay Ventures has ambitious objectives to expedite the adoption and growth of its portfolio companies. This includes efforts in scaling, distribution, and optimizing sales processes.
The launch of MoonPay Ventures unquestionably marks a new chapter in MoonPay’s journey, injecting fresh capital and expertise into these rapidly expanding industries driven by today’s cutting-edge technologies.