FinTech news in General Partner category

The division is backed by Barry Silbert Digital Currency Group and the blockchain protocol NEAR (from which OWC previously spun out), Jeff Lavoie, head of investments at OWC Ventures, said to journalist. Open Web Collective, a blockchain and web3 accelerator, has launched a new division called OWC Ventures to invest in early-stage crypto startups, the team exclusively told journalist. Aside from investing in developers, OWC Ventures will also deploy capital in other sectors like DeFi, SocialFi and gaming, Lavoie said. NEAR protocol’s focus has been on improving developer language, documentation, the technology and other things they’ve created, Lavoie said.

Bloomberg Beta announced its fourth $75 million fund and also a new $75 million opportunity fund for later-stage checks into startups the firm has already backed. Over at Golden Section, a Houston-based founder studio and venture capital firm, the firm completed the first closing of its second fund in May, but did not disclose the amount. Haris Khurshid, general partner at Chalo Ventures, launched a $50 million second fund focused on investing in Pakistani startups and a smaller percentage in Latin American startups. He did say that LPs wanted to know how the firm would navigate investment in that market, which required the firm to do a bit of educating on why Pakistan needed a focused fund.

OP Crypto is raising $100 million for its new investment, dubbed ‘Fund of Funds’, to deploy capital into emerging fund managers focused on early-stage crypto investments.

Fintech startup and alternative credit asset manager Viola Credit, has closed its latest $700 million fund which provides asset-based lending capital to FinTech, PropTech, and InsurTech startups.