TLDR:
- Hack VC closed $150 million for its Venture Fund 1, bringing total assets under management to $425 million.
- Funding will be used to support early-stage startups in security, DeFi, and the intersection of web3 and AI.
The web3 venture firm, Hack VC, recently closed $150 million for its first venture fund named Venture Fund 1. This funding round has raised the firm’s total assets under management to $425 million. The primary focus of Hack VC is to finance early-stage startups that are developing infrastructure in security, capital-efficient decentralized finance, and the intersection of web3 and artificial intelligence. The co-founders and managing partners of Hack VC, Alex Pack, and Ed Roman, mentioned that they invest amounts ranging from a few hundred thousand dollars to several million into projects they believe in, as well as allocate capital to support their protocols on-chain.
In addition to the recent funding round, Hack VC has led or co-led investments in various platforms like AltLayer and ImgnAI, along with backing projects such as Affine Protocol. The firm is also supporting the upcoming web3 conference, Hack.Summit, set to take place in April in Hong Kong. Hack VC’s portfolio includes companies like Mysten Labs, EigenLayer, and ConsenSys.
Overall, this funding round signifies a significant milestone for Hack VC as it positions itself to continue supporting innovative web3 startups and exploring new opportunities in the areas of security, DeFi, and AI.
