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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/08\/10\/longhash-ventures-launches-second-fund-for-100m-to-support-web3-infrastructure\/<\/a><\/br> LongHash Ventures, a web3-focused investment firm and accelerator, has launched its second fund for $100 million, its CEO, Emma Cui, told TechCrunch.<\/p>\n The VC firm is still raising capital and planning to hit $100 million for its Fund II by the end of the year, Cui said. This fund will be much larger than its first fund of $15 million, which launched in February 2021.<\/p>\n The Singapore-based firm decided to launch this fund because there\u2019s been a \u201cmassive influx of talent\u201d from Web 2.0 to web3, Cui said. \u201cWe do see a lot of deal flows not just in Asia<\/a> but in the Western Hemisphere, too.\u201d<\/p>\n \u201cThe previous fund was focused on pre-seed to seed rounds and we want to expand to investing into other stages aside from that,\u201d Cui said.<\/p>\n The $100 million will be invested in pre-seed to Series A web3 infrastructure<\/a> projects that support sectors like decentralized finance (DeFi), NFTs<\/a>, GameFi<\/a> and the metaverse. To date, it has backed over 60 crypto projects, including Polkadot, Astar, Acala and Balancer, to name a few.<\/p>\n On the other side of the business, LongHashX, its accelerator program, has partnered with more than 50 web3 projects globally that have raised more than $150 million in the past four years, the firm said.<\/p>\n Even though there has been market volatility in the past few months, Cui believes the space is evolving. \u201cWe\u2019re a VC fund with a five- to seven-year horizon. Our next fund will probably have an even longer horizon. We\u2019re not holding a liquid portfolio so we\u2019re not so sensitive to short-term drawdown.\u201d<\/p>\n And the best time to invest?<\/p>\n During the next three to five years, Cui said. \u201cEven though the market has gone through a bloodbath, every cycle brings more adoption. \u2026 The bear market is a good time to look for gems and support them in the long run.\u201d<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nLongHash Ventures launches second fund for $100M to support web3 infrastructure<\/br>
\n2023-01-20 22:21:22<\/br><\/p>\n