A $25 million venture capital fund for blockchain firms has been established by Paper Ventures.
After a few years of unrest among blockchain and cryptocurrency businesses, it’s unexpected to see a new participant enter the blockchain venture capital scene. However, because the industry’s exhilaration has subsided, there may be some rationale for funding initiatives after the fact.
Paper Ventures was created by Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov. They have a strong track record of making Web3 investments and a goal to leaving a lasting impression on early-stage companies.
The fund’s creators, whose experience with Web3 investments dates back to 2010, have set a $25 million ceiling. Their strategic emphasis on early-stage initiatives, where they feel they can add the most value, is reflected in this decision. The founding members actively support the projects they have picked in addition to providing funding.
Paper Ventures commits to utilizing the extensive industry experience and networks of its founders to furnish portfolio businesses with necessary resources and contacts to ensure their triumph. High-net-worth cryptocurrency pioneers, family offices, exchanges, traditional hedge funds, and creators all contributed to the $25 million fund campaign.
“Our mission at Paper Ventures is to be at the very forefront of innovation, fostering groundbreaking ideas that redefine the boundaries of technology and finance,” stated Blakey, a former professional poker player and cofounder of Ascensive Assets, in a statement. We are dedicated to helping people who share our enthusiasm for blockchain technology and think it has the ability to change the world.
Since 2010, the founders have successfully navigated several market cycles. They were among the first to invest in now-famous startups such as Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam, and Cosmos. They also have gameFi projects like YGG, Illuvium, and Merit Circle/Beam in its portfolio.
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