From FTX to Menlo: Amy Wu's Next Chapter in Venture Capital

The cryptocurrency industry continues to see significant personnel reshuffles as established players navigate post-collapse recovery. One notable move: Amy Wu, who spent years overseeing venture investments at FTX before the exchange’s spectacular downfall, is now building her portfolio at Menlo Ventures as a general partner. This transition marks a broader trend of experienced crypto investors repositioning themselves at more traditional venture firms following the industry’s turbulent 2022.

Wu’s departure from FTX came in November 2022, precisely when the once-valued company was spiraling into liquidity crisis that would ultimately result in bankruptcy filings and criminal charges against founder Sam Bankman-Fried and other executives. Her decision to exit proved prescient, and she now finds herself at Menlo, a heavyweight in the venture ecosystem with $5 billion in assets under management.

Building Experience Across Blockchain and Consumer Tech

Before her FTX tenure, Amy Wu spent years at Lightspeed Venture Partners honing her investment thesis around consumer technology, gaming, and blockchain applications. This multi-sector expertise became her calling card—an ability to spot early-stage opportunities across technologies that were still finding product-market fit.

Menlo Ventures partner Shawn Carolan highlighted Wu’s dual perspective in announcing her appointment: “Amy will make early-stage investments in technology-driven categories, including gaming, blockchain, and new consumer experiences made possible by tech shifts like generative AI. Her deep experience as both an investor and operator across a variety of consumer businesses will help her hit the ground running.”

That combination of investor judgment and operational knowledge—understanding both financial metrics and actual product development—is rare in venture capital and particularly valuable in the fast-moving consumer tech and blockchain spaces where strategic insight can compound returns significantly.

New Focus on Gaming and Emerging Tech at Menlo

Founded in 1976, Menlo Ventures has backed transformative companies across multiple eras, from early-stage Uber to Roku and Warby Parker. Now, Amy Wu will be directing capital into what the firm sees as the next wave of consumer-focused innovation: gaming metaverse applications, blockchain infrastructure, and AI-powered consumer experiences.

The appointment reflects how established venture firms are increasingly allocating resources toward crypto-native companies and blockchain-enabled consumer platforms. While the 2022 collapse of major players like FTX dampened investor enthusiasm temporarily, quality operators with track records continue finding capital and opportunity.

What This Means for Crypto Ventures

Amy Wu’s move to Menlo underscores a consolidation trend: experienced hands are gravitating toward larger, more stable venture platforms with institutional backing and proven track records. Rather than remaining tainted by association with failed companies, talented investors are repositioning themselves as architects of the next generation of crypto consumer products.

For founders seeking capital in gaming, consumer tech, and blockchain sectors, this signals that serious venture money remains available—just directed by investors with battle-tested judgment and a clear view of what the crash of 2022 taught the industry about sustainable business models.