cryptonews.net
Veterans of prominent cryptocurrency and fintech companies are launching a new $60 million fund called Oak Grove Ventures that will focus on the intersection of Web3, artificial intelligence, and biotech. Singapore-based Oak Grove Ventures' team includes notable figures including Sally Wang, formerly of Sino Global Capital (now Ryze Labs), Ethan Wang, former tech lead of Libra, Shawn Shi, co-founder of Alchemy Pay, as well as Michael Li, a former VP of Coinbase.
Sally WANG, the fund's head of investments, said in a statement to CoinDesk:
“We understand that the journey of building groundbreaking technologies is not just about capital; it's about fostering a community of visionaries, pioneers, and founders who share our passion for innovation. With this fund, our strategy is simple yet profound: to raise funds for the founders.”
Oak Grove Ventures, which previously operated as a family office, has a history of successful early-stage investments, having backed more than 30 projects in the past, the release said. Oak Grove says its disclosed investment portfolio includes eight funds and 14 high-quality projects, including SpaceX and Neuralink.
Image: TS2 Space