Crypto unicorn MoonPay creates venture capital arm

MoonPaya company specializing in crypto payments and valued at over 3
billion dollars
unveiled a investment unit soberly named MoonPay

This week, the fintech crypto MoonPay announced the creation of MoonPay Ventures
with the ambition of supporting innovation and the pioneering startups of the Web3.

It takes big ideas to change the way the world interacts with Web3, and every day we see revolutionary
companies pushing the boundaries of innovation,” proclaimed MoonPay boss Ivan Soto-Wright in a statement.

In addition to capital, MoonPay Ventures also provides project coaching and mentoring, with access
to its “500+ partners” in the Web3 industry.

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The crypto unicorn, which was raising $555 million in Series A at the end of 2021, has already invested in several
blockchain players. In particular, it is backing BCB Group, Absolute Labs and Mythical Games.

MoonPay Ventures will be led by Abhay Mavalankar, a Morgan Stanley alumnus. “Given our position in
the payments and Web3 sector, we are in a unique position to identify and invest in the most promising projects and
teams,” said the head of the new unit.

According to TechcrunchMoonPay Ventures targets series A with checks ranging from $100,000
to $1 million.

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