A $250 million capital has been allocated for investment in Web3 projects of consumer decentralized finance (DeFi), infrastructure and other ”enabling” technologies by Bessemer Venture Partners.
A venture giant is known for its investments in various successful companies across the sectors of Consumer, Enterprise and Healthcare; to add Crypto to its list, the firm allocated the sizable sum from its existing funds.
The firm made its first move into the crypto market by investing in 2017 in NYDIG, where the firm offered institutional custody services for Bitcoin.
The company is also currently partnered with nine crypto companies, which includes an NFT marketplace (MakersPlace), a fantasy football game (Sorare), and a blockchain intelligence company (TRM Labs).
Along with its crypto investment plans, the venture firm also announced an upcoming BessemerDAO, with initially a centralized authority structure headed by partners and then working towards decentralizing all the components.
The DAO will be “a web3 community for founders, creators, and operators” and will work on business development and tokenomics.
The venture firm also invited entrepreneurs working on developing any component of Web3 to get in touch with them.
Bessemer Venture Partners mimics the pattern of colossal investments in the crypto market, which were backed by Sequoia Capital and Bain Capital.
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