Crypto Companies Way Over The Top With Sparkling $1.8 Billion Investment

US-based venture capital firm has raised $1.8 billion to invest in companies, including those operating in the cryptocurrency market.

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The company told Reuters that over $1.05 billion of the new funding would be for a fund that’s focused on investments in more mature companies, even though the VC firm has been known for betting on early-stage investments.

Who Is Lightspeed?

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Lightspeed, the first investor in the messaging application Snapchat, intends to extend its reach in Southeast Asia and start investing including in cryptocurrencies.

A Lightspeed partner Jeremy Liew said that old companies are more consolidated in their industries than young startups. He said: it “has only been increasing over time, and as a result, our funds have been getting bigger over time as well.”

Lightspeed’s Previous Success

Due to the past success of Lightspeed’s previous funds which have returned $2.7 billion to investors, it will be a challenge for them to meet performance expectations. According to Reuters, companies backed by Lightspeed have handled 17 initial public offerings (IPO) during the last five years.

Meanwhile, Binance gave a helping hand to Japan with $1 Million donation for the victims of floods and landslides.

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