Vessel Capital unveils $55 million Web3 fund

Vessel Capital is out of its stealth mode. The VC co-founded by CEO d’Injective Labs has 55 million dollars to invest in the Web3.

After Hash3 in June and Illuminate earlier this month, it’s the turn of Vessel Capital to make its debut, at least officially.

Based in New York, the VC has announced the release of its stealth mode on Techcrunch on Thursday and unveiled a fund with 55 million dollars which invests around $10 million a year in infrastructure and Web3 applications.

Vessel Capital is already backing a number of projects in this new ecosystem, including Injective, Burnt, Omni layer, Rift Finance and Astar Network. Eric Chenone of the founders, is CEO of Injective Labs, the startup behind the L1 blockchain network.

We want to meet new manufacturers who may not already be part of our network. Visit crypto has become more global, so it’s not the same circle and group you saw in 2018-2020″, commented Mirza Uddin, another founder.

According to data provided by CrunchbaseVessel’s oldest investment dates back to May 2021. The firm has therefore been active for some time.

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The amount of venture capital injected into crypto sector drastically decreased in 2022, and the decline has intensified this year. US giant Sequoia recently cut the size of its dedicated investment fund by 60%.

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