Uniswap Labs Unveils Venture Unit to Foster Web3 Development

Uniswap reports that it has already invested in 11 firms and Web3 protocols, including Aave, MakerDAO, and LayerZero, with ambitions to engage in the governance processes of specific projects.

Uniswap Labs Ventures to Fund Web3 Expansion

Uniswap Labs, the company that developed the Uniswap decentralized exchange system, announced on Monday the formation of a new venture unit.

Uniswap Labs Ventures will make investments in a wide range of web3 initiatives, with a particular emphasis on companies developing blockchain infrastructure, developer tools, and end-user apps.

Aave, Compound Protocol, PartyDAO, LayerZero, and Tenderly (an Ethereum developer platform) are among the 11 firms and projects Uniswap Labs has invested in before establishing its investment arm. There was no indication of the capital under control by Uniswap’s venture fund.

Uniswap stated in the release what it was looking for in other initiatives it was interested in financing but did not disclose any more projects it planned to invest in.

“We’re also focused on investing in projects that are closely aligned with our values: building for the long term, collaborating openly with communities, and putting users first.”

Matteo Leibowitz, Uniswap’s Ventures Lead, will lead the initiative with Mary-Catherine Lader, the company’s COO. Leibowitz previously served as Uniswap’s Strategy Lead and was the founder and editor of the now-defunct “Crypto Chat” newsletter. He also worked as a research analyst at The Block.

Venture capital organizations are becoming increasingly interested in crypto, with DeFi being the most sought-after investment.

White Star Capital Raises $120 Million Web3 Fund

On Monday, White Star Capital announced the formation of a $120 million Digital Asset Fund (DAF) to support cryptocurrency networks and blockchain-enabled Web3 firms. 

Ubisoft, a well-known name in the video gaming industry, confirmed its support for the firm’s Series A funding efforts. The worldwide gaming behemoth will serve as a limited anchor partner (LP).

With the help of Eddie Lee and Luke Xiao, Florent Jouanneau in London, Sanjay Zimmermann in Toronto, and Dimitri Nitchoun in Paris, Sep Alavi will lead the DAF II.

When it comes to seed and growth investments, White Star Capital has a diverse portfolio. The DAF Fund II will continue to invest in early-stage blockchain-enabled firms and crypto networks, much like the DAF Fund I did.

It is a research-driven fund that uses both crypto-centric and VC-concept approaches to discover possible founder partners in seed, Series A, and token rounds of investments.

White Star Capital Boosts DeFi Expansion

White Star Capital has invested in 20 firms since launching its DAF I in 2020, including P2P crypto financing network Ledn, ALEX DeFi platform, NFTs and Metaverse platform Exclusible, and more.

Dr. Chiente Hsu, CEO of ALEX, commented on the new fundraising round, saying, “White Star Capital has a track record of backing many of today’s top up-and-coming Defi start-ups, and their experience has been very helpful as we grow our company. “

The DAF II intends to invest between $1 million and $7 million in token and equity investments in 20-25 businesses. Companies based in North America, Europe, and Asia will be given top consideration by the fund.

“Through our new fund, we’re looking forward to continuing to back a new generation of visionary founders building tomorrow’s greatest Web3, DeFi, and Gaming companies as they unlock the new internet of value for billions of people around the world,” he said.