The founders of Three Arrows Capital (3AC) set up a new venture capital fund.
Three Arrows Capital founders launch a new venture capital fund called “3AC Ventures”. The firm stated that they will focus on superior returns without using leverage. The OPNX exchange also announced that this new fund is an ecosystem partner.
A New Mutual Fund Move from the Founders of Three Arrows Capital
The founders of Three Arrows Capital have launched a new venture capital fund. However, the OPNX exchange also stated that it is behind this initiative.
OPNX founders Su Zhu and Kyle Davies are also co-founders of Three Arrows Capital. Kyle Davies commented, “3AC is dead, long live 3AC Ventures.”
Three Arrows Capital has experienced negative events in the past such as leveraged trading in crypto markets and the collapse of the Terra Luna ecosystem. At the time of filing for bankruptcy, it was stated that 3AC had $3.4 billion in receivables.
3AC is dead, long live 3AC Ventures https://t.co/61s8uQquOZ
— Kyle (3/AC) (@KyleLDavies) June 21, 2023
OPNX launched in April and initially started with low trading volume. But over time, their average daily volumes began to exceed $30 million. The exchange has launched its native token OX and its market cap has exceeded $300 million.
Along with these developments, the effort of the founders of Three Arrows Capital to continue their activities in the crypto money sector with the new venture capital fund stands out.
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