NEAR Foundation Launches $100 Mln Venture Fund and Web3 Lab
Swiss nonprofit NEAR Foundation has launched a $100 mln venture capital fund and venture lab for Web3, it was announced on Monday. The NEAR Foundation, which supports the governance and development of the NEAR protocol, will partner with Caerus Ventures, a newly formed investment firm, to deliver the project.
The initial closing of the venture fund will be $50 mln. It will seek to raise $100 mln in Series A seed funding rounds. Venture Lab will be Caerus' first investment and will focus on attracting creators, talent and franchisees to build the next generation of Web3 platforms and applications.
Marieke FLAMENT, CEO of the NEAR Foundation said:
"The Lab will offer cross-functional support to portfolio projects and will be supported by advisory partners who will be announced by the end of this year."
Image: The Daily Encrypt