NGC Ventures Completes $100 Million Fundraising for Its Blockchain-Focused Fund

Singapore-based blockchain venture capital firm NGC Ventures has raised $100 million for a crypto fund that will invest in blockchain games, NFTs and the metaverse.
Imagse source: NGC Ventures

Quick take:

  • NGC Ventures has launched a $100 million crypto fund to invest in Web3 projects.
  • The fundraising was backed by Huobi Ventures, Nexo Ventures, and Babel Finance, among others.
  • NGC said the fund will focus on early-stage investment opportunities in decentralized finance, blockchain-based gaming, NFTs, and the metaverse.

NGC Ventures has announced the successful completion of a $100 million raise for a crypto fund targeting early-stage investment opportunities in decentralized finance, blockchain gaming, NFTs, and the metaverse. The funding round was backed by some of the leading Web3 companies including Huobi Ventures, Nexo Ventures, and Babel Finance, among others.

NGC plans to offer more to startups than just funding. The VC firm said it will also be providing projects with “access to resources, including advice on tokenomics, influencer profiles, social platforms, launchpads, legal firms, market makers, exchanges, and ecosystems.”

Overall, the program will connect startups with its global investor network giving them access to expert advice and resources spread across the US, the UK, China and Singapore.

Commenting on the firm’s $100 million crypto fund launch, Roger Lim, NGC Ventures’ general partner said: “Despite the systematic market slowdown globally, we continue to see the emergence of high-potential projects that are set to shape the next era of Web3.”

NGC Ventures has previously invested in Web3 startups including Everyrealm, VR Jam, Solana, Oasis, Algorand, and EthSign. The venture capital firm was founded in 2017 by Lim and has since grown to become one of the biggest players in the crypto space in the South-East Asian region.

Venture capital firms are zooming in on the web3 space with blockchain-focused funds amid the play-to-earn gaming and NFT trend. Earlier on Wednesday, Silicon Valley-based Andreessen Horowitz, which has already invested in several Web3 projects launched a $4.5 billion crypto fund to invest in web3 startups at any stage.

In March, blockchain VC Griffin Gaming Partners raised $750 million for a Web3-focused fund, while leading crypto lending platform Nexo created a new business unit, raising $150 million to invest in Web3 projects.

Web3 has been dubbed, the next iteration of the internet and crypto enthusiasts think it will form the infrastructure for communication, blockchain gaming and entertainment, as well as, create a new avenue for creators to monetize their intellectual property through NFTs.

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