Quick take:
- TD VC has announced a $100 million fund with a $10 million commitment.
- The fund targets web3 special situation projects.
- The company is specifically looking at projects with solid fundamentals focused on the next evolution of web3.
TradeDog’s venture arm, TD VC has announced a $100 million web3 fund for special projects. The fund also comes with a $10 million commitment from General Partners.
The fund is focusing on sound web3 projects with struggling tokens. The company said the fund will also be targeting projects focused on the next evolution of web3.
The venture fund is comprised of key strategic partners including TDeFi, a web3 incubator and TDx, a Token launchpad boasting more than 30,000 whitelisted retail investors. Others include TDMM, which facilitates liquidity management, and TD research, which provides market intelligence on on-chain analytics.
Commenting on the announcement, TradeDog’s Rishabh Gupta said: “We aim to be a catalyst for innovation and believe our funding models will empower creators and disruptors in the web3 space to revolutionize the existing multi-layered blockchain ecosystem.”
The fund is part of TradeDog Group’s initiative to support products and services that seek to make web3 based applications more accessible.
The company will also inject capital into token projects that are considered special investments due to a difference in valuation.
The fund will be led by General Partner, Rupesh Pednekar, who boasts global experience in tech and finance, including providing advisory about growth strategies and fundraising among others.
Rupesh previously served at Moody’s Investors Service for eight years. He also worked at Verizon Wireless, helping the company launch 4G and in technology integrations with multiple acquisitions made by the company.
Commenting on the TD VC’s vision for the fund, Pedneker said: “There has been a massive influx of talent from WEB2 to WEB3 and at TD VC we are looking to leverage that and bring about more adoption. There are a plethora of use cases for Web3 technologies and it is changing how value and equity is distributed. We aim to be a catalyst for innovation and believe our funding models will empower creators and disruptors in the web3 space to revolutionize the existing multi-layered blockchain ecosystem.”
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