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Today: November 9, 2024
February 15, 2024
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Breaking: RW3 Ventures Secures $60M Crypto VC Fund Backed by Mubadala and Raptor

RW3 Ventures, a venture capital firm, has announced the successful close of its first fund, raising $60 million. The fund is led by Raptor Group, the family office of billionaire Jim Pallotta, and has significant support from Mubadala, a sovereign wealth fund of Abu Dhabi. RW3 founder Pete Najarian believes that the firm’s name-brand backers and focus on real-world blockchain use cases will help it succeed in a bullish market. The participation of Mubadala reflects a growing willingness among sovereign wealth funds to venture into the crypto industry. RW3’s investments include a health tech platform that uses blockchain for medical records and a cybersecurity startup. The firm prefers to invest through a combination of traditional equity and token warrants, with potential for token-only deals. RW3 can also invest in public market liquid tokens, up to 20% of its overall portfolio.

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