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Today: May 16, 2024
January 23, 2024
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Unleashing Web3 Potential: Paper Ventures Kickstarts Early Stage Funding

TLDR:

  • Blockchain venture capital fund, Paper Ventures, has launched with an initial $25 million fund to invest in early stage web3 and blockchain projects.
  • The fund’s founders have vast experience in web3 investment and plan to not only provide funding but also nurture the projects they identify.
  • Investors in the fund include traditional hedge funds, family offices, exchanges, founders, and other high-net-worth individuals in the crypto industry.

Blockchain venture capital fund, Paper Ventures, has been launched with an initial $25 million fund to invest in early stage web3 and blockchain projects, according to a press release. The fund’s founders, Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov, have extensive experience in web3 investment from a venture capital perspective and aim to focus on early stage projects where they believe they can have the most impact. The founders have declared their intention to not only fund but also nurture the outstanding projects they identify by providing resources and connections.

The initial $25 million fund was raised with the participation of traditional hedge funds, family offices, exchanges, founders, and other high-net-worth individuals in the crypto industry. The founders have operated in the blockchain space since as early as 2010 and have provided early funding for projects that are now dominant within their sectors, such as Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam, and Cosmos. They also have experience funding GameFi projects like Merit Circle/Beam, Illuvium, and YGG.

Oliver Blakey, a former poker pro and co-founder of Ascensive Assets, said that Paper Ventures is more than just investors and aims to be at the forefront of innovation by fostering groundbreaking ideas in technology and finance. Danish Chaudhry, who previously worked at Ernst & Young and BlackRock, highlighted the commitment of Paper Ventures to empower visionary entrepreneurs and catalyze disruptive technologies. Ivailo Jordanov, a successful entrepreneur and founding member of Altitude.fi and Deadalus Collective, expressed excitement about investing in groundbreaking ideas and using his experience to support brilliant minds.

Paper Ventures aims to provide visionary entrepreneurs with the capital, resources, and strategic mentorship required to thrive in the web3 landscape. The company believes decentralized technologies can unlock value across multiple sectors and is passionate about supporting under-the-radar projects that have the potential to shape the future.

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