Paper Ventures, a new blockchain venture capital (VC) fund focused on early-stage Web3 and blockchain projects, has been launched with an initial fund of $25 million. The fund, founded by experienced venture capitalists, will not only invest in outstanding projects but will help nurture them.
New Fund Backed by Leading Industry Figures
A new blockchain venture capital (VC) fund, Paper Ventures, has been launched with an initial fund of $25 million earmarked for investment in early-stage Web3 and blockchain projects. The fund was mobilized from traditional hedge funds, family offices, exchanges, founders, and high net worth (HNW) crypto OGs.
The VC, which claims to have the backing of some prominent industry figures, said it not only seeks to fund but also to nurture outstanding projects. According to a statement, Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov are the founders of Paper Ventures. The three are experienced in investing in Web3 projects.
Some of the projects which the trio helped to secure early funding include Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam and Cosmos.
Commenting on the launch of the fund, co-founder Blakey, a former poker pro, said: “We are more than just investors. 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. We believe in the transformative power of blockchain and are committed to supporting those who are as passionate about its potential as we are.”
Fellow co-founder Chaudhry expressed his delight and readiness to invest in not only groundbreaking ideas but also to do his part in elevating the brilliant minds behind them. Through Paper Ventures, the co-founders plan to avail their extensive industry experience and network, which can help provide the portfolio projects with the connections they need to succeed.
Source : Bitcoin News by Terence Zimwara / Jan 23, 2024