MetaWeb Raises $30M for Early Stage Crypto Startups

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metaweb fund
metaweb fund

Venture Capital Firm MetaWeb

In stealth mode for several months, the fund has invested in more than 30 startups.

MetaWeb Ventures, a venture capital company focused on crypto startups, has raised $30 million for its first fund, supported by Sequoia Capital, Dragonfly Capital, the Near Foundation and others.

The fund aims to invest primarily in decentralized social media, decentralized finance (DeFi), gaming, and decentralized autonomous organizations (DAOs), MetaWeb said in an email announcement on Thursday. The fund, which has been operating in stealth mode for the past few months, has already invested in more than 30 startups, including decentralized exchange Orderly Network, which closed a $20 million funding round in June.

“Deep down, MetaWeb is unique in the sense that we are all builders who also invest: we have direct access to the first projects, since we can offer a very special type of support to our founders”, said Dani Osorio, partner of MetaWeb .

MetaWeb Ventures was formed as an ecosystem fund for the Near protocol, a layer 1 blockchain network on which decentralized applications (dapps) are built. Near aims to rival Ethereum with higher speed and lower transaction costs. The company has expanded its competencies beyond Near, investing in applications on other networks, such as Ethereum, Aurora, and Cosmos.

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