The Mint will be a three-month accelerator, based out of San Francisco, that cuts $500,000 checks in exchange for 10% equity in between six to ten startups.
Mentors include Colleen Sullivan, co-head of ventures at Brevan Howard Digital; Mike Dudas, founder of LinksDAO, The Block and an investor for 6th Man Ventures; Anatoly Yakovenko, co-founder of Solana; Ryan Selkis, founder and CEO of Messari; Mounir Benchemled, founder of ParaSwap; Amir Bandeali, co-CEO of 0x Labs; and Ryan Wyatt, CEO of Polygon Studios. The pitch: Slide is a web3 digital advertising-focused platform that aims to analyze on-chain activity to provide tailored ads across the web3 ecosystem. Many of the teams are looking at improving crypto themes like proof-of-physical-work, wallet experience for everyday users, product-driven protocols, crypto B2B products, on-chain data and verticalization, Wang said. The current marketing technology doesn’t cater to web3 tools or on-chain and off-chain data, so it needs to be revamped to consider new technologies, co-founder Nathan Snell said.
Beyond co-founding Initialized, which raised a $700 million fund (its sixth) last year and has more than $1 billion in known assets under management, Tan was also co-founder of YC-backed blog platform Posterous, which was acquired by Twitter in 2012. Initialized Capital founder Garry Tan will become president and CEO of Y Combinator next year, the two organizations announced today. Initialized Capital’s other co-founder, Reddit co-founder Alexis Ohanian, left the firm in 2020 to start his own early-stage operation, 776. Months after the departure, Tan said that Ohanian isn’t leaving the firm altogether but is instead stepping into a board partner role at Initialized.
On Deck, a tech company that connects founders to each other, capital and advice, has laid off 25% off its staff, per sources familiar with the company. On Deck, not to be confused with small business lender OnDeck, is a company that provides capital and network support for emerging fund managers and founders.
Pangea Trust — an East African accelerator and investment platform, diaspora remittances can be tapped to increase the amount of funding injected into startups. However, a perspective-shift is required for this to happen and that is why Pangea, working in partnership with Swedish International Development Cooperative Agency and Kenya Diaspora Alliance, has since last year organized a series of events geared towards educating those in the diaspora on why startups are good investment options.