FinTech news in CoinFund category

The new fund will invest in crypto projects and companies that focus on layer-1 blockchains, web3 infrastructure, DeFi, NFTs and gaming, payments, asset management, exchanges, marketplaces and decentralized applications, Pakman said. Seven-year-old CoinFund is launching a $300 million early-stage web3 venture fund, CoinFund Ventures I, which is backed by institutional investors, family offices and crypto-native founders. Pakman thinks the recent drawdown in crypto asset prices generally provides more favorable entry prices for venture capital funds like CoinFund, but the transition from Web 2.0 to web3 is in its early stages. Even in this bearish crypto market, there more evidence of consumer and institutional adoption than previous cycles, Pakman commented.

The fund, which is backed by Dapper’s venture arm and Dapper investors Andreessen Horowitz, Coatue, Union Square Ventures, Coinfund, Digital Currency Group and Cadenza Ventures, among others, is aiming to incentivize more crypto devs to choose Flow as the blockchain they build their projects on with investments, token grants and development support.