Uniswap states that it has already invested in 11 organizations and Web3 protocols, including Aave, MakerDAO, and LayerZero, with plans to participate in particular project governance procedures.
Web3 Expansion to be Funded by Uniswap Labs Ventures
The business that created the Uniswap decentralized trading system, Uniswap Labs, announced the launch of a new venture unit on Monday.
Uniswap Labs Ventures will invest in a variety of web3 activities, with a focus on firms creating blockchain infrastructure, developer tools, and end-user apps.
Before forming its investment arm, Uniswap Labs invested in 11 companies and projects, including Aave, Compound Protocol, PartyDAO, LayerZero, and Tenderly (an Ethereum developer platform). There was no mention of the capital under Uniswap’s venture fund’s management.
Uniswap noted what it was looking for in other efforts it was interested in financing but did not reveal any more projects it planned to invest in.
Uniswap’s Ventures Lead, Matteo Leibowitz, will co-lead the project with the company’s COO, Mary-Catherine Lader. Leibowitz was formerly the Strategy Lead at Uniswap and the publisher and editor of the now-defunct “Crypto Chat” newsletter. He also worked for The Block as a research analyst.
Venture capital firms are getting more interested in cryptocurrency, with DeFi being the most sought-after investment.
White Star Capital Raises $120 Million Web3 Fund
White Star Capital announced the establishment of a $120 million Digital Asset Fund (DAF) on Monday to assist cryptocurrency networks and blockchain-enabled Web3 enterprises.
Ubisoft, a well-known name in the video game business, has announced its support for its Series A financing efforts. The global gaming powerhouse will act as a limited anchor partner (LP).
Sep Alavi will oversee the DAF II with the assistance of Eddie Lee and Luke Xiao, Florent Jouanneau in London, Sanjay Zimmermann in Toronto, and Dimitri Nitchoun in Paris.
White Star Capital has a diverse portfolio of seed and growth investments. The DAF Fund II, like the DAF Fund I, will continue to invest in early-stage blockchain-enabled enterprises and crypto networks.
It is a research-driven fund that looks for potential founder partners in seed, Series A, and token rounds of investing using both crypto-centric and VC-concept methodologies.
White Star Capital boosts deFi Expansion
Since opening its DAF I in 2020, White Star Capital has invested in 20 companies, including the P2P crypto finance network Ledn, the ALEX DeFi platform, the NFTs, and the Metaverse platform Exclusible.
The DAF II seeks to invest between $1 million and $7 million in 20-25 firms through token and equity investments. The fund will prioritize companies headquartered in North America, Europe, and Asia.