Luno Launches Venture Fund to Invest in Over 200 Crypto and Fintech Startups per Year – Finance Bitcoin News

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Luno Launches Venture Fund to Invest in Over 200 Crypto and Fintech Startups per Year – Finance Bitcoin News
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Jocelyn Cheng says that 'Luno Expeditions will focus on the group’s early-stage investing in equity and convertible rounds.' luno funding web3

Luno cryptocurrency exchange recently announced the launch of an investment arm, Luno Expeditions, whose objective is to invest in fintech, crypto, and Web3 startups globally. The investment arm will target digital assets and later-stage companies starting from Series A upwards.One of Africa’s pioneering cryptocurrency exchanges, Luno, recently announced the launch of an early-stage investment arm whose objective is to back fintech, crypto, and Web3 startups.

Also in the report, Cheng — who has previously held investing roles at CPP Investments, Bain Capital, and Goldman Sachs — is quoted distinguishing the new venture’s role from that of DCG. The CEO opined that there are “very few truly global and very early-stage fintech funds” that are currently operational, hence an opportunity to build one currently exists. She also noted that there is a strong convergence between some fintechs and crypto. Still, Cheng reckoned that the infrastructure still needs to be built, saying:

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