Home Technology LongHash Ventures Deploys $100M Web3 Investment Fund Platform

LongHash Ventures Deploys $100M Web3 Investment Fund Platform

0
LongHash Ventures Deploys $100M Web3 Investment Fund Platform

In a new development, LongHash Ventures will launch a $100 million decentralized Web3 investment fund.

With more innovative products, projects, and applications, the crypto space is growing by leaps and bounds. Moreover, blockchain technology has created more opportunities for extraordinary achievements in industry and other sectors.

Yet, other advancements and developments are still taking place in the crypto space. She announced that plan on Wednesday. LongHash said the fundraiser aims to raise $100 million and will continue until the end of the year.

LongHash Ventures CEO and founding partner Emma Cui commented on the Web 3 investment fund. He said her firm is launching the fund to support the massive influx of web 2 and 3.

In addition, CEO Cui praised the company’s value. Cui mentioned that it’s all about leveraging their accelerator, LongHashX, to start the Asian ecosystem for the projects they’ve invested in. Additionally, Cui explained that they use their vast resources to help various teams ensure they achieve their goals.

The initial amount of LongHash funds is set at $15 million. The first funds will focus on the pre-seed to seed cycles of the fundraising process. Cui said they are planning a massive expansion of investments in various other stages before the initial move.

LongHash is an Asian investment company and accelerator known for focusing on web 3 development. It has been involved in several fundraising projects with web 3 VCs, single-family offices, and even founders.

These include NGC Ventures, Hashkey Capital, Protocol Labs, Gnosis Safe, MEXC, etc. Additionally, he pioneered this capital funding for Synthetix founders Kain and Jordan Warwick.

LongHash collaborates with different entities

The company has backed over 60 projects such as Astar, Polkadot, Dodo, Balancer, Acala, Gnosis Safe, Coinshift, and Zapper.

Its accelerator subsidiary, LongHashX, has collaborated with blockchains in the past. These include Algorand, Polkadot, and Filecoin. Additionally, the accelerator recently secured funding from Superscrypt with a hidden valuation.

LongHash Ventures Deploys $100M Web3 Investment Fund Platform
Polkadot is trading sideways on the chart l Source: DOTUSDT on TradingView.com

LongHash entered into a partnership in April this year with TerraForm. The collaboration allowed LongHash Ventures to invest in and accelerate certain Web 3 protocols based on the Terra blockchain. Additionally, it would offer around $500,000 to fund and support certain Terra-related projects.

The partnership, which was to last 12 weeks, was to start by June 2022 and should bring together ten entities. They were to get instructions on six specific areas of concentration.

These include governance, fundraising, tokenomics, product strategy and design, community building, and technology mentorship. However, the collapse of the Terra ecosystem wiped out the program’s performance.

Featured image from Pixabay, Chart from TradingView.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here