Crypto:
29213
Bitcoin:
$64.220
% 2.38
BTC Dominance:
%54.2
% 0.10
Market Cap:
$2.29 T
% 0.46
Fear & Greed:
65 / 100
Bitcoin:
$ 64.220
BTC Dominance:
% 54.2
Market Cap:
$2.29 T

Capital Raised by Hack VC for Web3

Hack VC

Web3 venture capital firm Hack VC has raised a $150 million fund to support crypto and artificial intelligence startups. This fund aims to invest in the most “capital efficient” DeFi projects and solutions for preventing smart contract and protocol attacks.

The New York-based VC firm announced on February 20 that decentralized finance (DeFi), real world assets (RWA) tokenization, and blockchain infrastructure solutions would be the priority sectors of its crypto-focused investments. Hack VC aims to support innovative and successful projects in these areas by focusing on early-stage crypto and AI startups.

Hack VC will focus its future investments on projects that make crypto more user-friendly and “capital efficient,” as well as projects aimed at reducing smart contract and protocol attacks. The firm will particularly focus on this area, as these projects remind it of the viruses that bothered internet users in the 1990s.

Web3, it said, needs a structural change in terms of scalability, security, and usability, and emphasized that this change needs to happen before it’s ready for prime time. The firm also plans to invest heavily in the “Web3 x AI” field.

Despite the downturns in the crypto market, the firm continues to maintain its deep belief in crypto and plans to continue supporting early-stage crypto startups in the future, as it has in the past. The firm’s future investments will vary, starting with smaller projects with single founders to larger projects the firm believes in.

Since entering the Web3 field in 2014, Hack VC has made more than 100 investments. It has seeded dozens of unicorns (startups valued at over $1 billion). The firm’s total assets under management are said to be around $425 million, with venture financing for Web3 firms on the rise.


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