LongHash Ventures Launches a $100 Million Web 3 Investment Fund

LongHash Ventures – an Asian investment firm and accelerator that’s geared towards web 3 – has announced a $100 million venture fund for the decentralized web. 

The money will be targeted at “multi-chain Web3 infrastructure projects” supporting DeFi, NFTs, GameFi, and the metaverse.

  • Per a press release shared with CryptoPotato on Wednesday, the fund will continue to raise capital until the end of the year, aiming for $100 million.
  • LongHash has already backed over 60 projects, including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe and Balancer.
  • The company has raised capital from numerous web 3 VCs, founders, and single-family offices. These include Hashkey Capital, NGC Ventures, Protocol Labs, Gnosis Safe, MEXC, and Synthetix founders Kain and Jordan Warwick, among others. 
  • LongHashX – the firm’s accelerator arm – also received funding recently from Superscrypt at an undisclosed valuation. The accelerator has previously partnered with chains like Polkadot, Filecoin, and Algorand. 
  • Emma Cui, Founding Partner and CEO of LongHash Ventures, said the fund was launched due to a  “massive influx of talent” from web 2 to web 3. 
  • “Our unique value lies in leveraging LongHashX to bootstrap the Asia ecosystem for the protocols that we invested in,  and using our crypto-native knowledge and resources to help the teams achieve their potential and succeed,” she continued. 

  • The first of LongHash’s funds was for just $15 million and focused on pre-seed to seed rounds. “We want to expand to investing into other stages aside from that,” Cui said.
  • In April, LongHash partnered with Terraform labs to invest in web 3 protocols within the Terra ecosystem. However, the Terra network has all but collapsed ever since both of its internal currencies collapsed to zero. 
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 98,260.33 4.41%
Ethereum (ETH) $ 3,351.23 9.08%
Tether (USDT) $ 1.00 0.27%
Solana (SOL) $ 254.55 8.16%
BNB (BNB) $ 622.36 2.04%
XRP (XRP) $ 1.17 7.28%
Dogecoin (DOGE) $ 0.385142 1.89%
USDC (USDC) $ 1.00 0.17%
Lido Staked Ether (STETH) $ 3,354.09 9.07%
Cardano (ADA) $ 0.791966 1.55%