Quick take:
- The company has set aside an initial $25 million to invest in early-stage Web3 and blockchain projects.
- Paper Ventures’ founding members said in the announcement on Monday that they will also seek to nurture the outstanding projects they identify.
- The founders have invested in multiple Web3 projects including the likes of Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam and Cosmos.
Paper Ventures has announced a $25 million Web3 fund for early-stage blockchain projects. The fund received backing from some of the leading industry veterans including traditional hedge funds, family offices, exchanges, founders and other high-networth crypto organisations.
Founded by Danish Chaudhry, Oliver Blakey and Ivailo Jordanov, Paper Ventures the fund has been created not only to invest but also to nurture the outstanding projects they identify. The three founders boast a wealth of experiences from their investments in Web3, which include the likes of Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam and Cosmos. They also invested in GameFi projects including Merit Circle/Beam, Illuvium, and Yield Guild Games (YGG).
Commenting on the announcement, Oliver Blakey said: “We are more than just investors. Our mission at Paper Ventures is to be at the very forefront of innovation, fostering groundbreaking ideas that redefine the boundaries of technology and finance. We believe in the transformative power of blockchain and are committed to supporting those who are as passionate about its potential as we are.”
According to press material shared with NFTgators, Blakey is a former managing partner at Ascernsive Assets, which grew its assets under management to over $1 billion during his tenure.
Blakey’s colleague Danish Chaudhry brings experience from traditional finance, having worked at some of the leading financial institutions including Ernst & Young and BlackRock.
Chaudhry commented: “Having navigated the highs and lows of entrepreneurship, I’m thrilled to embark on this next step in this journey. Our commitment is to empower visionary entrepreneurs, catalyze disruptive technologies, and drive the next wave of impactful change. With Paper Ventures, I’m excited to invest in groundbreaking ideas and also to use my experience to elevate the brilliant minds behind them, fostering a collaborative ecosystem that propels innovation to unprecedented heights.”
****
Stay up to date:
Subscribe to our newsletter using this link – we won’t spam!
