New crypto venture capital funds only invested in Near in Nod to Specialization

New crypto venture capital funds only invested in Near in Nod to Specialization

While portfolio managers who focus on cryptocurrency try to narrow down their niches in the direction of specialization, a alum of Consensys Ventures prepares the introduction of a risk capital fund that focuses on just one protocol.

rune Bentien said Blockworks said at the end of March or early April a first financial statement of $ 10 to $ 15 million for his Move company based in Great Britain. It is planned to raise a total of around $ 40 million up to a few other degrees in the course of this year.

MOVE only supports startups in the Near Protocol ecosystem, a decentralized financial blockchain that aims to use a network of computers to create a cloud computing platform.

The Near token was traded at a little over $ 11 on Thursday afternoon, an increase of 165.6 % compared to the previous year. Investors were attracted to the use of Sharding in the Proof-of Stake Blockchain, which divides the data of the blockchain into easily digestible parts that are distributed to the nodes of the network.

Bentien and other institutional investors who use capital for Near projects say that the blockchain is still in the beginning and has a solid growth course in front of them.

"This is so early," said Bentien. "You have fewer than 30,000 full -time developers on web3."

The market launch is part of a growing number of new vehicles that are based on a single corner of cryptography, since limited partners are increasingly looking for specialization as a means of generating alpha.

industry participants say that the market capitalization of crypto was so low a few years ago that the concentration on a niche was not a practical way to use considerable capital. That changes.

The Near team, said Bentien, has an "enormous technical advantage" compared to other blockchains with his Sharding technology and has the interest of institutional investors looking for the next big thing. In addition to the attractiveness: the cryptocurrency says that it is climate -neutral.

Bentien, one of the first 50 knots on Near, said that the blockchain was equipped for a broad acceptance.

"on the assumption that you can stay concentrated in 2022, we think we have a few exciting years ahead of us," said Bentien.

The startup plans to use capital "as early as possible", said Rune and concentrated on investment rounds before the seed, seed and series A phase. He expects many of the investments to support startups that develop decentralized applications on the Near blockchain.

The team is now storing five to ten investments that become part of its portfolio as soon as the fund is launched. At the beginning, Move is planning to invest about two thirds of his capital in equity games, with the remaining third to be intended for token investments. This proportion is expected to reverse in the next or two years.

Move plans to have five employees around the start, including some with a crypto-native background. They are based in Africa, Europe and the USA. Bentien refused to reveal their identity, since some still negotiate with current employers about leaving.

The startup also has a venture partner on board.

The team will take over the rudder of a fund with a blocking period of five years - a shorter duration than with many other risk capital funds - and plans to take on contributions from limited partners in the form of cryptocurrencies, including Near.

fiat is not accepted for contributions from limited partners, a potential entry barrier for traditional investors who are used to handling all their financial transactions in dollars - although support for frequently used stable coins such as USDC could be helpful.

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The contribution New Crypto Venture Capital Fund Investing ONLY in Near in Nod to Specialization is not a financial advice.