Momentum Capital looking for 'next Apple in crypto' after $10 million investment
Quick Take
- San Francisco-based Momentum Capital has secured a $10 million investment from Canada’s BM Fund.
- The investment will be used as part of Momentum Capital’s mission to find “the next ‘Apple’ in crypto.”
San Francisco-based crypto-native fund Momentum Capital has secured a $10 million investment from Canada's BM Fund.
The investment was finalized in July 2023, according to a statement released today.
The infusion of capital will, according to the announcement, be used to expand the team and support early-stage web3 projects to help the fund in its mission to find "the next 'Apple' in crypto."
Momentum Capital’s performance during volatile market phases influenced the move, according to BM Fund. "Our decision to invest in Momentum Capital during bear markets underscores their proficiency," BM Fund Founder Carmen said.
Looking ahead to the next stage in the crypto market cycle, Momentum said it was ready to amplify its focus on web3 opportunities.
"Momentum Capital remains devoted to investing in and nurturing web3 projects of intrinsic value," Momentum Capital Managing Partner Gary said. "As we navigate the currents of the market in the next six to twelve months, our focus will extend to nurturing global builders, with a keen emphasis on web3 infrastructure, regional web3 opportunities and web3 applications."
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