Bernard Arnault’s investment fund to invest 100 million euros in Web3

Aglaé Ventures, a venture capital firm backed by LVMH group and Bernard Arnault, plans to invest 100 million euros in promising Web 3.0 and cryptocurrency projects. Although the information is still little known, talk of the new fund is likely in the coming days.

https://cryptoast.fr/fonds-investment-bernard-arnault-invest-100-millions-euros-web3/

Arnault Group invests heavily in Web3

Agachbefore Arnault Groupwill develop a fund dedicated to young projects developing cryptocurrencies untilat least 100 million eurosaccording to exclusive information from our colleagues at The Block.

This action will be Aglai Venturesa venture capital firm specializing in technology investments and Bernard Arnault SupportChief Executive Officer and Managing Director LVMH Group.

According to several sources close to the company, the number of deployments will be in 100 and 110 million euros. Typically, the group’s financial sector invests between 100,000 and 100 million euros.

For information, Aglaé Ventures has invested in several successful projects in the past, such as Netflix, Spotify, airbnb or Devialet​​​. Last June, the company participated in Roundtable with French company Flowdesk Together with Ledger, Coinbase and Sébastien Borget (Sandbox).

In February last year, Bernard Arnault Some aspects of Web3stating that LVMH is “ Widespread in the real world and the band is ” Virtual sneakers on sale for 10 euros ”. However, the organization has shown in the past that it is not Indifference to blockchain technology.

👉 Going a step further: What is Web3, the decentralized version of the internet?

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Aglaé Ventures, the future leader of Web3?

Last May, we learned that Vanessa Gretel Join with Aglaé Ventures Lazaro Gustavefounding members Flamingo Road and was the company’s former operations manager Aave Liquidity Protocol.

In the case of Vanessa Grellet, she benefits from long-term experience at ConsenSysparent company MetaMask Walletand investment funds specializing in cryptocurrencies Coin Fund.

So she already smelled a VC firm opportunity, as much as she could at the time. Report to Blockworks :

“The VC firm has had great success in the Web2 space, but they see a lot going on in the Web3 space and want to hire experts to manage this part of the investment. We will both have a lot of operational experience to help the founders and let the They go from zero to one. »

Among the areas covered by these different investments, notably Centralized Finance and Decentralized Finance (DeFi), but also Web 3.0 infrastructurea scalability solution for the web and a tool for creators.

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Published by edition Larousse

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Source: The Block

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