TLDR:
– Hack VC raises $150 million to invest in early-stage crypto and AI startups
– Focus on decentralized finance, real-world asset tokenization, and blockchain infrastructure solutions
In a recent announcement, Hack VC, a Web3 venture capital firm based in New York, revealed that it has raised $150 million to support early-stage crypto and artificial intelligence startups. The firm plans to target sectors such as decentralized finance (DeFi), real-world asset (RWA) tokenization, and blockchain infrastructure solutions in its crypto-focused investments. Hack VC emphasized its interest in projects that enhance the user-friendliness and efficiency of crypto, as well as those that address smart contract and protocol vulnerabilities.
The firm also expressed a commitment to investing in the intersection of Web3 and AI, citing previous investments in projects like Jasper AI and Ritual. Despite the challenges faced by the crypto market in recent years, Hack VC remains bullish on the industry, highlighting the need for infrastructural improvements in scalability, security, and usability. With a track record of over 100 investments and multiple unicorns seeded, the firm’s total assets under management now stand at approximately $425 million.
Recent data shows a growing trend in venture funding for Web3-related companies, with a notable increase in investments during the fourth quarter of 2023. Hack VC’s latest fundraise adds to the momentum in the industry, as more investors and funds show interest in supporting innovative projects in the crypto and AI space. With a focus on early-stage startups and a vision for the future of Web3, Hack VC continues to be a key player in the evolving landscape of technology and finance.
