Felix Capital, a British venture firm, has raised $600 million for a Web3-focused investment fund.
We are thrilled to share that we have closed oversubscribed funds of $600m, doubling our committed capital to over $1.2bn, allowing us to double down on the transformation of the customer journey and the emergence of a digital, sustainable lifestyle 🚀https://t.co/K4N3sMps60
— Felix Capital (@FelixCapital) June 8, 2022
The oversubscription exceeded the $500 million target, the firm said. The vehicle was launched in 2015. This is its fourth fund, taking invested capital to $1.2 billion.
\”We are expanding our areas of interest, deepening our familiarity with Web 3.0, a new platform for creativity, coexistence and, of course, entrepreneurship,\” the statement said.
With the new fund, Felix aims to back 20-25 companies over the next few years, primarily in Europe and selectively in North America.
The firm’s portfolio already includes players from the crypto industry. Among them: the hardware-wallet maker Ledger, the NFT platform for fantasy football Sorare, and the startup Lightning Network, the startup Lightspark, David Marcus’s startup, which promotes the Lightning Network technology.
Earlier, Ledger, together with venture firm Cathay Innovation launched a €100 million fund to invest in Web 3.0 startups.