TLDR:
Asylum Ventures launches a $55 million fund to support startup “artists” with unique and innovative ideas, not just traditional assets.
- Asylum Ventures launches $55 million fund for inception-stage startups
- Puffpaw, Permissionless Labs, Infinit, DRiP, IN1, and DeFi.Gold also secure funding
Asylum Ventures, a new venture capital firm based in New York City, is breaking the mold by focusing on supporting startup “artists” with unique and innovative ideas rather than just traditional assets. The firm aims to invest $1-2 million in pre-seed and seed-stage firms that may be struggling to raise capital due to their unconventional nature. This approach is exemplified by other startups like Puffpaw, Permissionless Labs, Infinit, DRiP, IN1, and DeFi.Gold, all of which have recently secured funding for their innovative projects.
These startups are disrupting various industries and pushing the boundaries of what is possible in the world of technology and finance. Puffpaw, for example, is developing a vape-to-quit smoking model, while Permissionless Labs is creating a permissionless content delivery network (CDN) on the Solana blockchain. Infinit is building an abstraction layer for decentralized finance (DeFi), and DRiP is a creator engagement platform on Solana. IN1 is focused on fiat-crypto management, and DeFi.Gold is working on a Bitcoin-based DeFi platform.
Overall, the landscape of venture capital is evolving, with a greater emphasis on supporting unique and groundbreaking ideas that have the potential to reshape industries and drive innovation forward.
