Ledger and VC firm Cathay Innovation Launch $110 Million Crypto Fund

Ledger, a crypto hardware wallet provider, has teamed up with Cathay Innovation, a worldwide venture capital firm, to form a €100 million ($110 million) fund to invest in web3 firms. Bpifrance, the French public investment bank, is backing the Ledger Cathay Capital fund. Other investors have also contributed to the fund. Ledger Cathay Capital will invest in early-stage companies, including decentralized banking, security, infrastructure, and digital ownership. Barrier said, “The fund is still new and hasn’t made any investments yet.” We believe in a future where Internet users truly own their digital assets. To help realize this future, we're establishing a €100 million fund in partnership with @Cathayinnov to invest in projects covering all facets of the Web3 ecosystem. Learn more: https://t.co/VQuCMOjwL9 pic.twitter.com/BdLHx4TYyD — Ledger (@Ledger) June 8, 2022 Web3 as a Multi-Decade Investment Opportunity Barrier explained that Ledger Cathay Capital sees web3 as a “multi-decade investment opportunity”. The space is still evolving when asked why the fund is being launched, despite the adverse market conditions. Barrier said, “We have no plans to slow down or reduce our investment activities and believe that the current environment is a real opportunity for us to start the fund and actively invest in the world’s crypto startups,” Cathay Innovation and Ledger Cathay Innovation and Ledger are not strangers to one other. Accord...