New €100 million fund launched by Ledger and Cathay Innovation
Cathay Innovation and Ledger have decided to jointly launch a fund dedicated to Web3. This Venture Capital firm and the leading French crypto security unicorn are set to revolutionize finance and the digital ecosystem.
Read more: What is a crypto wallet?
Ledger Cathay Capital: the first French fund entirely dedicated to Web3
With the exponential growth of cryptocurrencies and Web3, the VC firm and the French unicorn have wisely decided to join forces to launch a €100 million fund. The creation suggests that the world is moving toward tokenization of all asset classes. "Over the next 15 years, we will see the tokenization of everything as blockchain transforms existing asset classes with programmability, trust, security and digital ownership - but it can't happen in silos," said Denis Barrier, co-founder of Cathay Innovation.
In doing so, Cathay Capital, a global private equity fund, signifies its support for the development of Web3. This is a real breakthrough for Web3 supporters as Cathay Innovation brings its expertise to digital companies. Thanks to this new fund, digital startups will be able to get support in the early stages of their development.
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For its part, Ledger is a startup that produces and sells wallets to store and manage the various assets owned by its customers in a completely secure manner. This alliance with Cathay Capital's PE fund allows Ledger to impose its leadership over the market.
"With Ledger Cathay Capital, we want to help crypto and Web3 builders by providing access to our unique digital security ecosystem, and supporting the construction of our security technology platform, thanks to the technical know-how of more than 700 blockchain experts and distribution channels at scale the innovative, secure and decentralized services of tomorrow," says Pascal Gauthier, CEO of Ledger
A fund that wants to place France at the forefront of tokenization of assets
This fund launched by Ledger and Cathay Innovation allows Ledger to show its ambition for this field. Indeed, it is very innovative for a startup to launch a VC fund, since this fund is, by nature, risky, something that a startup rather seeks to avoid. However, everything suggests that this fund should be a success since it already has the support of large funds such as BPI France for example.
For their part, Denis Barrier, co-founder of Cathay Innovation, and Pascal Gauthier, CEO of Ledger, explain that the fund's objective is to make up for the delay that France has developed in the fields of technology and Web3. Indeed, France is almost a generation and a half behind the United States. Pascal Gauthier and Denis Barrier are therefore looking to catch up and allow France to reposition itself at the forefront of the development of tokenization of assets. In fact, the latter is still in the early stages of development, so the delay of France is not yet too pronounced. This can be made up for by setting up a fund like Ledger Cathay Capital.
Cathay Innovation and Ledger will revolutionize the future of finance
This fund wants to revolutionize the future of finance and investment. It joins an ecosystem of funds created to support the development of new blockchain-based technologies, such as Binance and Coinhouse.
In total, nearly $33 billion has been invested in blockchain and Web3 startups in 2021. Ledger Cathay Capital, for its part, plans to help especially startups in the seed or series A phase.
This new fund must therefore prove itself in this ecosystem and prove that its first 6 clients have wisely chosen their investment.
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