The hosts of the famous crypto podcast Bankless are launching a $35 million venture capital fund to invest in seed-stage Web3 businesses.
According to Ben Lakoff, another GP, the show’s hosts David Hoffman and Ryan Sean Adams, will be general partners in the fund. According to Lakoff, the trio make up the fund’s investment committee.
Although the Bankless podcast is intended to be a separate legal organization from the fund, it will likely share its brand and benefit from one of the more well-known content platforms in the crypto media. One source in venture capital claimed that the platform and investing arm working together would result in “amazing deal flow” for the young VC.
Adams and Hoffman founded Bankless in 2020. Since then, it has established a powerful multi-platform presence with its signature podcast, newsletters, YouTube channel, and decentralized autonomous organization (DAO), including a $BANK governance token.
The fund would concentrate on early-stage cryptocurrency businesses and “empowering pioneers to explore the frontier of Web3,” according to a draft website. The brand’s excursion into crypto investing, which started last year, continues with Bankless’s entry into the venture capital space.
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In November last year, Bankless revealed that it had acquired the Earnifi software project from DeFi under a brand-new division dubbed Bankless Labs.
“Bankless is going beyond the media,” Adams said in a blog post. We are currently developing tools for your DeFi journey.
