Crypto platform Luno launches an investment arm, Luno Expeditions

  • The investment arm will support more than 200 fintech and crypto/web3 startups annually.
  • Luno Expeditions will be led by CEO Jocelyn Cheng with an all-female team of five. 

DCG (Digital Currency Group) – owned crypto platform Luno has reportedly launched an early-stage investment arm, dubbed Luno Expeditions to support infancy stage fintech and crypto startups worldwide.

Luno Expeditions will leverage DCG’s considerable expertise in backing decentralized finance (DeFi), web3, and crypto startups. The fund will essentially target early-stage pre-seed businesses to expand its investment activities.

Meanwhile, Luno is adopting a localized approach to scale up the investment effort within a fiercely competitive venture ecosystem. The newly launched investment arm will also leverage Luno’s expertise and use it to encourage founders across the five continents where the platform is known to operate.

Moreover, Luno Expeditions – with no definitive size – plans to infuse capital in at least 200 to 300 startups every year, while aiming to extend beyond cryptocurrency into the vast fintech space.

It has been reported that the new initiative will be led by CEO Jocelyn Cheng with an all-female team of five. Cheng has served as the Managing Director of Global Innovation Fund, an impact investment VC, as well as invested consistently for the last six years in startup founders globally.

The parent company will continue to operate despite Luno Expedition’s spinoff, while the VC company will remain focused on the digital currency market and invest in digital assets or later-stage companies. To that effect, Cheng confirmed that Luno Expeditions will solely foster early-stage investments in equity and convertible rounds.

Recently, various retail customers, investors, and LPs have grown more interested in the crypto and web3 space. In fact, firms like Paradigm and Andreessen Horowitz have launched massive funds worth around USD 3 billion respectively, primarily focusing on startups offering solutions in the budding space.

Apart from this, other companies such as Electric Capital, Inflection, Hack VC, and have launched enormous funds in the last three months with the same goal.

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