Investing in Web3
Singapore-based LongHash Ventures has launched a new investment fund worth $100 million for its second fund. The venture capital firm unveiled it will use the funds to invest in Web3 infrastructure. For those who haven’t heard of it, Web3 is made up of the next generation of verticals that includes AR/VR, AI, blockchain, and decentralized apps, all leveraged to help create a freer, more democratic internet now called the “Metaverse”.
Set up in 2018 by Founding Partner Emma Cui, LongHash Ventures raised $15 million for its first fund back in February of this year with the likes of VCs Hashkey Capital, NGC Ventures, Protocol Labs, Gnosis Safe, and MEXC taking part.
Pre-seed To Series A
Having already back over sixty projects to date including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe, and Balancer, the investment company can count on an elite team of experts based in China, Malaysia and India to assist Web3 startups in their development and ability to scale faster at the Pre-seed to Series A stages focused on DeFi, NFTs, GameFi, and, of course, the Metaverse — though Emma Cui, Founding Partner and CEO of LongHash Ventures, did state the fund wants to expand to investing into other stages, too.
“By running both an accelerator and an early stage fund that provides hands-on support, our unique value lies in leveraging LongHashX to bootstrap the Asia ecosystem for the protocols that we invested in, as well as in identifying founders and projects with massive potential very early on and using our crypto-native knowledge and resources to help the teams achieve their potential and succeed. The second fund will enable us to support more founders and through subsequent rounds,” said Cui.
Cui is optimistic about the current market despite the crypto winter, saying that the bear market is an opportunity to identify gems and support them long-term.
“Our unique value lies in leveraging LongHashX to bootstrap the Asia ecosystem for the protocols that we invested in, and using our crypto-native knowledge and resources to help the teams achieve their potential and succeed,” she added.