Tether, the issuer of the USDT stablecoin, has made its first venture capital fund investment, contributing $2 million to Arcanum Capital’s Arcanum Emerging Technologies Fund II. This move marks a new chapter for Tether as it ventures into the realm of venture capital, seeking to support promising Web3 projects and technologies.
Arcanum Capital Fund II is a tokenized investment vehicle focused on decentralized Web3 projects. Tether’s investment aligns with its broader strategy of diversifying its business and supporting the growth of the crypto ecosystem. The company has been actively exploring new avenues for expansion, including proposing a boron-backed token to the Turkish government and facilitating its first energy financing deal.
This investment underscores Tether’s commitment to fostering innovation and supporting the development of cutting-edge technologies within the blockchain space. By partnering with Arcanum Capital, Tether aims to contribute to the growth of the Web3 ecosystem and further solidify its position as a key player in the crypto industry.
