Key Takeaways
- • Hack VC, a California crypto-native investment firm, has launched a $200M seed fund to back early-stage crypto, blockchain and web3 startups.
- • Backers reportedly include Fidelity, Sequoia Capital, Accolade Partners, Digital Currency Group, Marc Andreessen and Chris Dixon of a16z, among others.
- • The fund targets web3 infrastructure, DAOs and tooling, NFT infrastructure and DeFi, according to FinSMEs as cited by FinTech Global.
- • Initial portfolio investments include Goldfinch Finance, Mysten Labs, Yat, Element.fi and SynCity.
Summary
California crypto-native investment firm Hack VC has launched a $200 million crypto seed fund to invest in crypto, blockchain and web3 startups, according to FinTech Global. The fund is backed by Fidelity, Sequoia Capital, Accolade Partners, Digital Currency Group, Marc Andreessen and Chris Dixon of a16z, along with other investors. Other coverage describes the firm as San Francisco-based and identifies the vehicle as an early-stage crypto investment fund.
According to FinSMEs, the vehicle will invest across areas including web3 infrastructure, DAOs and their tooling, NFT infrastructure and DeFi, which the firm characterizes as the "next frontier" of web3. To date, the fund has invested in DeFi lending protocol Goldfinch Finance, web infrastructure provider Mysten Labs, NFT identity platform Yat, fixed-rate DeFi protocol Element.fi and blockchain metaverse game SynCity.
Hack VC operates an in-house Crypto Lab, a technology platform staffed by crypto engineers and quant researchers that supports crypto networks, DAO governance and DeFi liquidity provisioning. The firm also runs a developer community around hack.summit, a large blockchain programmer event that reports more than 130,000 attendees across 157 countries.
According to FinSMEs, the vehicle will invest across areas including web3 infrastructure, DAOs and their tooling, NFT infrastructure and DeFi, which the firm characterizes as the "next frontier" of web3. To date, the fund has invested in DeFi lending protocol Goldfinch Finance, web infrastructure provider Mysten Labs, NFT identity platform Yat, fixed-rate DeFi protocol Element.fi and blockchain metaverse game SynCity.
Hack VC operates an in-house Crypto Lab, a technology platform staffed by crypto engineers and quant researchers that supports crypto networks, DAO governance and DeFi liquidity provisioning. The firm also runs a developer community around hack.summit, a large blockchain programmer event that reports more than 130,000 attendees across 157 countries.
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