Paper Ventures, a new blockchain venture capital fund, has launched with the support of leading industry figures. The fund, which was created with an initial $25 million, will focus on investing in early stage web3 and blockchain projects. The founders of Paper Ventures, Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov, have extensive experience in web3 investment from a venture capital perspective. They have chosen to cap the fund at $25 million in order to concentrate on projects where they believe they can make the most impact.
The founding members of Paper Ventures have expressed their intention to not only provide funding but also support and nurture the projects they identify. Leveraging their industry experience and network, the partners at Paper Ventures will provide portfolio projects with the necessary resources and connections to succeed. The $25 million fund was raised with the participation of traditional hedge funds, family offices, exchanges, founders, and other high-net-worth individuals in the cryptocurrency industry.
The founders of Paper Ventures have been active in the blockchain space since 2010 and have experienced multiple market cycles, providing early funding for projects that are now dominant in their respective sectors. Some of the projects they have supported include Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam, and Cosmos. They also have experience funding GameFi projects such as Merit Circle/Beam, Illuvium, and YGG.
Oliver Blakey, one of the founders of Paper Ventures, is a former professional poker player who has used his skills in game theory to help founders prepare to launch native tokens. He was previously the co-founder and managing partner at Ascensive Assets, which grew to over $1 billion in assets under management during his tenure. Blakey stated that Paper Ventures aims to be at the forefront of innovation and support projects that push the boundaries of technology and finance.
Danish Chaudhry, another co-founder of Paper Ventures, has a background in traditional finance, including work at Ernst & Young and BlackRock. He went on to found and launch FMFW.io, previously known as the Bitcoin.com Exchange, which quickly grew to 1.5 million users. Chaudhry expressed excitement about investing in groundbreaking ideas and using his experience to foster collaboration and drive innovation.
Overall, Paper Ventures aims to provide capital, resources, and strategic mentorship to visionary entrepreneurs in the web3 landscape. The founders believe that decentralized technologies can unlock value across multiple sectors and are passionate about supporting under-the-radar projects that have the potential to shape the digital world of tomorrow.
