Felix Capital Has Raised $600 Million To Invest Into Crypto And Web3

London-based Felix Financial, which describes itself as a “venture capitalist for the creative class,” secured $600 million for its fourth fund, bringing its total capital commitment to over $1.2 billion, which will benefit 20 to 25 enterprises across North America and Europe.

Felix makes early-stage and growth-stage investments in companies. The company’s original objective of $500 million was exceeded, according to Frederic Court, the company’s founder and managing partner. It owns stakes in Farfetch, a British-Portuguese online fashion marketplace, Deliveroo, and Peloton, a provider of internet-connected stationary exercise cycles and treadmills.

It is now looking to branch into blockchain and crypto firms.

“As a firm focused around shifts in consumer behavior, we expect communities will evolve naturally on Web 3 platforms to communicate and transact,” Antoine Nussenbaum, a Felix partner, told Bloomberg. “We want to play an early role in this journey.”

Making money is a side effect

In a Forbes interview, Court echoed this shift, highlighting the company’s pivot with the new fund by citing current investments in the NFT fantasy football game Sorare.

“We are at a scale where we can choose our battles and have a positive impact,” Court told Forbes. “I often say the way we practice venture capital that the money-making part is a by-product of backing distinctive, attractive, and authentic businesses.” Felix has invested in former Meta executive David  Marcus’s bitcoin payments company Lightspark.

Instead of preparing current firms to embrace blockchain tactics, the investment firm concentrates on luring rising brands to Web 3. Established fashion houses such as Gucci and Dolce & Gabanna have already dabbled in the NFT market by producing limited-edition digital collectibles. Court believes that Web3-native companies will appeal to a younger demographic that is currently adopting avatars for online interactions.

Web3 still needs to open out to the fashion business, which Felix has invested

“What really intrigues us is how we get from B2G [business to geek] to B2C [business to consumer] since it’s still a little awkward,” he told Business of Fashion, in which he has invested and sits on the board. “The software isn’t very good.” It does not appear to be a secure environment. It has the feel of a get-rich-quick mentality in many locations.”

Felix is particularly concerned about environmental issues, having invested in the e-scooter firm VanMoof.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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