As a seasoned researcher with a keen interest in the dynamic world of cryptocurrency and venture capital, this latest announcement by Lemniscap piques my curiosity and excitement. With over a decade of experience under my belt, I’ve witnessed the meteoric rise and occasional fall of various blockchain projects.
A cryptocurrency-oriented investment company, Lemniscap, has declared a $70 million fund aimed at nurturing new businesses within the emerging web3 sector.
As per Lemniscap, Accolade Partners, a venture capital fund that primarily focuses on early-stage Venture Capital, will serve as the foundation for this upcoming fund. Notably, Accolade is also experienced in growth equity investments and blockchain funds.
Lemniscap intends to invest the $70 million they’ve secured into nurturing early-stage Web3 entrepreneurs, as stated in a press release dated August 28th.
In the realm of blockchain technology, we’ll be concentrating on several crucial aspects such as zero-knowledge systems, infrastructure for physical decentralization, the Bitcoin network, and the intersection of digital and physical worlds (phygital). DePIN and ZK are becoming increasingly significant components within the market.
Ethereum (ETH) founder Vitalik Buterin shared his latest thoughts on ZK, noting that one “fascinating initial use case” for this technology are airdrops.
Financial firepower
As a researcher, I joined Lemniscap in 2017, a venture that has since invested in over 130 innovative projects within the web3 sphere. Among these, some of the top protocols we’ve backed include Avalanche, The Graph, EigenLayer, Puffer, StepN, and Axelar. Our diverse portfolio also extends to several other promising projects.
As stated by Roderik van der Graaf, founder and managing partner of Lemniscap, the company is planning to make more investments within the sector. This fund carries a substantial amount of financial resources that will be used to back the upcoming leaders in this field, according to van der Graaf’s remarks.
VC funding growing
The crypto venture capital space boosts some huge players and funds, including Paradigm, Pantera Capital, and a16z Crypto. VC investments across the crypto industry have continued to expand after the dip seen following the FTX collapse.
In the second quarter of 2024, total venture capital funding increased to $2.7 billion.
In the recent past month, some notable Venture Capital (VC) fundraising rounds include Story Protocol’s $80 million and Chaos Labs’ $55 million.
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2024-08-28 20:18