The fund was established by Patrick Chang, an active angel investor in the cryptocurrency industry.
New crypto-focused deal financialย resources company Dispersion Financialย resources has launched a $40 Million fund focused on pre-seed and seed assets in Webย 3.0 infrastructure projects. Limited partners backing the fund included the deal financialย resources arm of USDC issuer Circle, enterprise-focused cryptocurrency company Ripple and Webย 3.0 infrastructure giant Alchemyโs financing arm.
The fund is opening for business during an extended cryptocurrency bear market that has slowed assets in the space, though infrastructure projects have proven to be the most resilient sector.
โWeโre looking for teams that are bridging todayโs infrastructure gaps and building new standards for decentralized tech layers,โ Patrick Chang, founder and managing partner of Dispersion Financialย resources, wrote in an notice post. โTheir work will make it possible to create and launch multi-chain, multi-currency, and multi-platform applications. We want to find and fund the fundamental tech layers that make this possible.โ
Chang informed TechCrunch that Dispersion Financialย resources has already deployed about 10 percent of fund
In his post, Chang pointedย outย that deal financialย resources money poured into the cryptocurrency industry in 2021, and the focus was on the so- wasย known appย layer of Webย 3.0, or decentralized applications (dapps) that helped onboard users into areas such as non-fungible cryptoย tokens (NFTs) and decentralizedย financeย (DeFi). As the bull market gave way to the bear, cryptocurrency infrastructure was found wanting.
โWeb3โs foundational layer wasnโt (and still isnโt) ready for billions of users,โ wrote Chang.
Changโs work history straddles Web2 and Webย 3.0, reportsย by his LinkedIn. He previously headed blockchainย tech assets for Samsung Next and has backed a number of cryptocurrency corporations as an angel investor, including Alchemy, Dapper Labs and Space and Time.
Stephen Alpher.
