The CVC arm of crypto exchange OKX has partnered with Aptos to launch a new fund targeting web3 and cryptocurrency projects.
OKX Ventures, the corporate venture capital arm of Seychelles-registered cryptocurrency exchange OKX, has launched a new $10m fund called Ankaa, in partnership with blockchain platform Aptos Foundation.
Ankaa will target startups working in the web3 sector making products that can be used on Aptos’s blockchain. Areas of focus include decentralised finance, gaming, social media, AI and real-world assets, which are representations of traditional financial assets on the blockchain.
The fund will announce the first cohort of projects in September. A panel of judges from OKX Ventures, Aptos and the Ankaa team will make the selection.
OKX Ventures was launched in 2021 with $100m of capital. Since then, it has been one of the most active investors in crypto and web3 startups under its leader Jeff Ren. As of June 2024, it had participated in over 190 funding rounds.
It recently took part in an $8m seed funding round for Apriori, which develops cryptocurrency trading technology. It also led the seed funding round of an undisclosed size for ZKlink, which makes blockchain products that aim to scale and unify crypto assets.
