Crypto trading startup, Luno, is targeting startups operating in the crypto, web3 and fintech sectors. Who wants a fresh injection of funds?
Through Luno Expeditions, which is a global venture capital unit specifically for crypto, web3 and fintech entrepreneurs who are in the initial funding stage.
Luno Expeditions will be led by Jocelyn Cheng as Chief Executive Officer (CEO). Cheng will take the lead in revitalizing the crypto sector and the wider fintech ecosystem.
"We have an ambitious plan to build venture capital that is tailored to the needs of startup founders. It is an honor to be able to work with dedicated entrepreneurs from around the world who share a common vision to solve problems and build a better financial services company," he said. as in the official broadcast we received.
Barry Silbert, Founder and CEO of DCG, and Marcus Swanepoel, Co-Founder and CEO of Luno, are closely involved in the Luno Expeditions initiative and will be part of the Investment Committee.
Armed with DCG's experience and track record as an early-stage crypto startup investor for the past seven years, Luno Expeditions will now spearhead all DCG early-stage investments (seed and pre-seed).
The Luno Expeditions team will focus on increasing the number of investments (with a target of 200-300 investments per year) and expanding its portfolio beyond crypto to the wider fintech field, globally.
Over the past few months, Luno Expeditions has invested in more than 20 of the world's leading crypto and fintech companies, including crypto compliance solutions in Israel, an NFT marketplace in the United States, a dedicated bank for women in Pakistan, and a new remittance solution in Tanzania.
"We know how difficult it is to build a company, especially in financial technology. With our long experience in setting up, growing and running fintech businesses in some of the world's most challenging markets, we want to support the next generation of entrepreneurs from around the world to do the same. ," concluded Luno's Co-Founder and CEO, Marcus Swanepoel.