NGC Ventures Launches $100M Fund to Fuel Web3 Innovations

Investment Surge in the Decentralized Internet

In an exciting development for the tech world, NGC Ventures has taken a giant leap by launching the NGC Metaverse Ventures, a new fund aimed at bolstering Web3 projects. With $100 million raised from big players like Babel Finance and Huobi Ventures, this fund is a testament to the flourishing interest in the decentralized internet. Roger Lim, the general partner at NGC, emphasizes that the fund will channel resources into “high-potential projects” within the Web3 economy.

Prior Investments and Growth Trajectory

Since its inception in 2017 in Singapore, NGC Ventures has not been a stranger to the blockchain landscape. Known for its early investments in cryptocurrencies such as Solana (SOL) and Algorand (ALGO), the firm is on a roll, with Web3 and metaverse endeavors catching the eyes of venture capitalists left and right. Just last week, NGC disclosed that its new fund has already made investments in three promising startups. It’s safe to say they weren’t just scrolling through TikTok while making investment decisions!

Big Money in Web3: A Growing Trend

The excitement doesn’t stop with NGC’s latest fund. The venture capital community has been ramping up its investments in Web3 projects, pledging nearly $3 billion since mid-April alone. Notably, the legendary Silicon Valley firm Andreessen Horowitz recently initiated a $600 million fund specifically for gaming startups within this burgeoning economy. Clearly, the appetite for decentralized gaming and finance isn’t just a passing fad.

Corporate Giants Eyeing Talent

Meanwhile, Google is looking to tap into this wave by searching for a Head of Product Marketing to spearhead awareness of its Web3 initiatives within Google Cloud. It’s hightime consumers knew about Google’s less well-known efforts in this space, right? This unusual yet bold step shows just how serious corporate titans are about Web3.

The Road Ahead for Crypto VC

This year appears destined for record-breaking heights in the crypto venture capital scene. The first quarter alone saw firms investing an eye-popping $14.6 billion, accounting for nearly half of all capital directed towards crypto startups last year. With the World Economic Forum addressing the Web3 economy, alongside insights from industry leaders like Gavin Wood, it’s clear that the momentum is building—and it’s spectacular!