""We had actually owned a company called Skillz, which kind of operated in this space. It didn't work out well for us and many other investors.""
""We feel pretty excited about it," Woods said in the recent interview regarding the investment in the startup."
"Lucra developed a software platform that reimagines corporate loyalty programs into interactive, eSports-like events such as tournaments where customers can play each other, even betting or winning cash or company giveaways."
"The ARK Invest Venture Fund is not a typical VC fund. It's an SEC-regulated interval fund, meaning anyone can invest in it, for as little as $500."
ARK Invest Venture Fund has made its first lead investment in Lucra, a startup that reimagines corporate loyalty programs through interactive, eSports-like events. Lucra raised $20 million in a Series B round, led by ARK with participation from several other investors. The fund's cautious approach stems from past experiences, particularly a previous investment in Skillz, which did not yield positive results. Lucra's B2B platform differentiates it from past ventures, focusing on customer engagement through tournaments and competitions.
Read at TechCrunch
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