Vessel Capital Invests $55 Million in Web3 Infrastructure and Applications

Vessel Capital: $55 Million to Invest in Web3 Infrastructure and Applications

Vessel Capital, a venture capital firm, has announced that it has $55 million available to invest in Web3 infrastructure and applications. The firm is specifically looking to fund fresh web3 entrepreneurs and wants to meet new founders who may not already be in their network. The funds will be allocated over a span of five years, with the potential for further expansion in the future.

Main Breakdowns:

Vessel Capital has $55 million to invest in Web3 infrastructure and applications
The firm wants to fund fresh web3 entrepreneurs and meet new founders outside of their network
The focus of the fund will be on backing application-specific infrastructure, while remaining open to considering other areas
Vessel Capital believes that forging a relationship between a VC with a grasp of web3 and a startup from the beginning is crucial for success
The firm is particularly interested in partnering with fresh founders and believes there are valuable ideas that could use investment

Recent VC Funding Trends in the Web3 Sector

In recent times, there has been a decline in web3 funding from venture capitalists. According to Pitchbook data, crypto and web3 startups raised only $2.32 billion across 456 deals in Q2 2023, marking the fifth consecutive quarter of declines. Rumors are circulating that VCs are also exploring investment opportunities in AI, potentially leading to reduced funding for web3 and crypto projects.

Hot Take:

Vessel Capital’s $55 million fund for web3 infrastructure and applications is a promising development for fresh web3 entrepreneurs. By focusing on application-specific infrastructure and seeking out new founders, Vessel Capital aims to provide not just financial support, but also guidance and advice. With the decline in web3 funding from VCs, this initiative could help fill the gap and support the growth of innovative ideas in the web3 industry.