Investors in the crytpo fund include Babel Finance, Altonomy, Huobi Ventures, Nexo Ventures and GBIC.
The funding comes after the success of NGC Ventures’ previous funds, which made strategic early investments in many of today’s top-tier projects including Solana, Oasis, NYM, Babel Finance, Republic, Banxa and Algorand.
In tune with the growth momentum of the Metaverse, this new fund will focus on backing early-stage Web 3.0 projects extending from the Metaverse and its infrastructure to DeFi, GameFi and NFTs, according to the announcement.
With NGC’s expertise in the crypto-field, new entrants and startups will be better placed to deliver high impact solutions to the market, leaping past the ideation phase towards tangible innovations.
“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 Web 3.0. Our role is to identify such projects and work extensively with these talented teams to ensure they have all the necessary capabilities to turn their ideas into reality,” said Roger Lim, NGC’s general partner and founder.
He added that the Metaverse Ventures Fund allows the firm to be “at the heart of it all — as we collaborate with the brightest minds to create a thriving digital realm with endless possibilities”.
NGC will offer these projects access to a variety of resources, including tokenomics advisory, influencer profiles, social platforms, launchpads, legal firms, market makers, exchanges, and ecosystems. It will also connect founders to NGC’s extensive global investor network, built around its presence in Singapore, San Francisco, New York, London and Shanghai.
To date, NGC Metaverse Venture has made early investments in Everyrealm, VR Jam, and EthSign, with more planned in its future pipeline as it adds fuel to the growth and development of Web 3.0. – AsiaTechDesk.com