Hack VC, a crypto venture capital company, launched a new 200 million dollar crypto-based seed funds. This venture capital company is responsible for the hack.summit()The event, which is the largest blockchain programming conference in the world, seeks to invest in Web3-based early stage teams. This fund aims to be there for these teams at every stage of their development, and not just offer funding like with similar proposals.
Hack VC Announces $200M Fund Supported by Sequoia Capital & Fidelity
Hack VC, a cryptocurrency-based venture capital group behind hack.summit()The blockchain programming event announced that it will launch a $200 million crypto seed funds. It will be investing in the early stages of cryptocurrency and Web3 companies. The funds come from several VC companies in the field and include investments from Sequoia Capital, Fidelity, A16z’s Marc Andreessen, and Digital Currency Group, among others.
This fund will take a new approach to incubating early-stage ventures that are focused on DAOs and NFTs as well as defi. Alex Pack is one of the fund’s managers and the founder of Dragonfly Capital.
While our backgrounds are in venture, we don’t just want to create another venture fund. Crypto has broken down the barriers between users and investors for the first time. That’s why we aim to be both the earliest investor, first user, and foundational community-member in all the crypto projects we back.
Hack VC aims to stand out from the rest of similar funds in that it offers full support and assistance for all activities, rather than just financial funding.
The Complete Support Stack
Ed Roman, the managing partner, explained the plans of the fund to provide support to the teams that are involved with the crypto fund. Roman explained the many ways that the fund can support these teams’ growth, which includes advertising, hiring and creating early community.
Using hackjobs.org, hacksummit.org, and Hack Labs — three different tools that the company features — will allow them to give the required attention and grow these teams and their projects, according to Roman.
This fund supports many projects and includes well-known NFT and decentralized finance names. Goldfinch Finance is one of these projects. Other NFT identities include Yat (NFT identity platform), Mysten Labs Web3 provider, Element.fi defi protocol, and Syncity metaverse game are others.
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