Luno, a subsidiary of Digital Currency Group (DCG), today announced that it is launching Luno Expeditions, an early-stage investment arm to back fintech and crypto/web3 startups globally.
The fund will leverage DCG’s seven-year experience of backing web3, DeFi and crypto startups as it looks to expand its investment activity to reach more early-stage businesses at pre-seed and seed.
Also, scaling this investment effort will require a ‘localized’ approach, particularly in a highly competitive venture environment. Luno Expeditions believes it can tap into Luno’s market expertise to support founders across the five continents in which it operates.
Luno Expeditions, which has no dedicated size, intends to fund between 200-300 startups each year and diversify beyond crypto into the broader fintech space.
CEO Jocelyn Cheng will spearhead this new project as she leads an all-female team of five. Cheng has invested in global startup founders over the last six years as the managing director at Global Innovation Fund, an impact investment VC.
Cheng’s previous role required…
