Singapore-based institutional investor NGC Ventures, which focuses on venture funding for blockchain-based projects, has announced a new ecosystem fund dedicated to Web3 projects and highlights increased investor demand for startups driving the decentralized internet.
NGC Metaverse Ventures, the firm’s third blockchain fund, raised $100 million from investors as it looks to help projects build and launch across the industry. Participating investors include Babel Finance, Huobi Ventures, Nexo Ventures, Altonomy, and GBIC.
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NGC Ventures Allocating Funds Towards High-potential Projects
According to Roger Lim, the general partner of NGC Ventures, the fund will allocate capital towards “high-potential projects” in the Web3 economy.
NGC said the Web3 Foundation had already invested in three startups on Wednesday.
NGC Ventures was launched in 2017 as a blockchain and fintech venture capital firm and was an early investor in Solana, Algorand, and Oasis.
The Web3 and metaverse projects have aroused great interest in the venture capital community. Since mid-April, venture capital firms have pledged to invest nearly $3 billion in those projects. In particular, Silicon Valley VC Andreessen Horowitz has launched a $600 million fund, which is committed to gaming startups within the Web3 economy.
Selected projects will benefit from expert input with access to major industry influencers, launchpads, market makers, and exchanges will also be available.
At the World Economic Forum’s Annual Meeting in Davos, Switzerland, this week, there has been a lot of discussion about the Web3 economy. In an exclusive interview with Cointelegraph, Polkadot (DOT) founder Gavin Wood said that the growth of Web3 is encouraging because it means people are seeing how this underlying technology can be used for different applications beyond just crypto.
First Quarter 2022 VC Leaving Behind 2021
The first quarter of 2022 saw impressive growth in terms of venture capital activities in different blockchain sectors. Venture capital poured over $30 billion into the cryptocurrency space, including infrastructure, nonfungible tokens (NFTs), decentralized finance (DeFi), centralized finance, and Web3 in 2021.
2022 is going to be another record-breaking year for crypto venture capital. In the first half alone, venture capital firms committed $14.6 billion toward cryptocurrency and blockchain startups, or 48% of all the capital invested in 2021.
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It takes more than just great technology for people to use a product. Unfortunately, history is filled with significant products that did not have the right marketing mix, management, and capital to bring them successfully to the market.
So, VC aims to fix these types of issues by investing more than just the capital required to get a project off the ground and providing a network of contacts that can provide solutions to the correct marketing strategic management mixture.
Featured image from Flickr, and chart from Tradingview.com
