Valkyrie to launch Web 2.5-focused venture fund

The company said the goal of its creation was to invest in startups that seek to bridge the gap between Web 3.0 and the average user

19.07.2022 - 16:50

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What’s new? Asset management company Valkyrie plans to launch a venture capital fund focused on “Web 2.5” projects that are at an early stage of development. The company explained that by Web 2.5 they mean the sector in which startups are working to bridge the gap between Web 3.0 and the average user. The fund will be used to support such projects. This is reported by The Block.

Information on The Block's website

What is known about Valkyrie Ventures? This is the company's first venture capital project and will be led by Lluis Pedragosa, who previously worked at the venture capital firm Team8. The fund will focus on startups in the US and Israel. The future head noted:

“I'm looking for companies that provide a web 2.0 user experience with an underlying crypto native infrastructure of web 3 so people can use the assets without even knowing they're using blockchain.”

In addition to companies creating such user experiences, the fund also plans to invest in “middleware” startups developing secure blockchain infrastructure. Valkyrie plans to raise $30 to $50 million.

Earlier, Valkyrie Investments announced the launch of the Valkyrie Avalanche Trust (VAVAX). The trust is based on the Avalanche blockchain to provide accredited investors with secure access to a native AVAX token.

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