OpenFX Launches Venture Arm, Invests in Miami’s Jeeves and Cyclops

Just a few days ago, OpenFX announced the launch of its venture arm, OpenFX Ventures, with plans to invest in Miami-based startups like Jeeves and Cyclops. As a yoga teacher in Miami, I couldn't help but notice the potential impact this move could have on the local tech ecosystem.

Karan Shah, the OpenFX chief of staff leading the new ventures unit, revealed that the company has been making informal investments for about a year, giving small checks to friends, customers, and vendors. Now, with a more structured approach, OpenFX Ventures plans to invest between $20,000 and $100,000 in early-stage founders. The relationship with the founders is more important than the exact figure, Shah emphasized.

OpenFX Ventures will focus on innovators in four key areas: next-generation applications, routing and clearing infrastructure, credit on the blockchain, and AI-native payment operations. This move could significantly boost Miami’s tech scene, providing much-needed capital and resources to local startups.