Web3 Adoption: MoonPay Launches Early-Stage Venture Arm to Foster Innovation

MoonPay, a Web3 infrastructure company, has announced the launch of a new investment arm called MoonPay Ventures. This division will focus on collaborating with and supporting innovative startups in order to drive value in the industry and promote Web3 adoption.

MoonPay Ventures aims to engage with early-stage companies in the Web3 and fintech ecosystems, partnering with industry leaders who are passionate about building Web3 experiences that transform existing business models. In addition to providing capital, MoonPay Ventures will offer portfolio companies access to top-tier teams, emerging business models, and go-to-market strategies in Web3.

The venture arm plans to leverage MoonPay’s experience and resources to provide startups with mentorship, industry expertise, and access to MoonPay’s extensive network of over 500 industry partners across leading blockchains, marketplaces, wallets, and exchanges. This toolkit will help startups accelerate the development and scaling of their projects, ultimately driving the growth and adoption of Web3 technology.

MoonPay Ventures will be situated within the company’s Corporate Development group and will be led by Abhay Mavalankar, who brings a wealth of experience from his previous roles in investment banking and venture capital at Morgan Stanley, Centerview, and Cisco Investments.

By leveraging the expertise of the MoonPay executive team in revenue scaling, go-to-market strategies, and product strategy, combined with the company’s vast network, MoonPay Ventures aims to deliver real and tangible value to its portfolio companies.

MoonPay co-founder and CEO, Ivan Soto-Wright, expressed the company’s commitment to supporting standout players in the ecosystem and working towards mass Web3 adoption. The launch of MoonPay Ventures is seen as a significant milestone in bringing this vision to reality and leveraging company resources to support portfolio companies and the Web3 industry as a whole.

MoonPay Ventures has already made investments in several companies including BCB Group, BRUT, BeatClub, absolute labs, Create/OS, BridgeTower Capital, and Mythical Games, showcasing its dedication to identifying and supporting promising startups in the Web3 space.

Mavalankar emphasized that MoonPay Ventures is well-positioned to provide value to portfolio companies due to the company’s executive team’s experience in scaling revenues, operationalizing go-to-market strategies, and refining product strategy, as well as the extensive network MoonPay has established.

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