Uncorrelated Venturesa British venture capital company specializing in the development of web2 infrastructures and web3has just launched a new investment fund with 315 million dollars.
Founded in London in 2019 by a Bain Capital alumnus, Uncorrelated Ventures has already made a large number of investments in cryptocurrency startups, including AscendEX, Hidden Road, CoinDCX and Juno. In total, it has invested in over 100 crypto and tech companies.
According to Bloombergthe VC has just raised 315 million for a new fund that will concentrate 80% of its investments in start-ups working around traditional software infrastructures and 20% for those exploiting blockchain and crypto technologies.
Its co-founder Salil Deshpande said he had had “no difficulty” raising the funds despite the current difficult conditions for startups. The executive believes that blockchain is a technology “with real use cases”. He believes, however, that use cases have been “overestimated and overvalued” in the past.
It’s our job as investors to evaluate them properly,” he explained.
Uncorrelated Ventures is backed by four sovereign wealth funds and a university endowment fund.
Keep up to date with crypto news on our Twitter or Telegram