VC company foresight is daring to invest up to $ 200 million in web3 startups over a period of 3 years
VC company foresight is daring to invest up to $ 200 million in web3 startups over a period of 3 years
- The company based in Shanghai announced that Blockworks would invest in projects that focus on the expansion of web3, NFT and blockchain infrastructure
- The emerging company is investing in the primary and secondary market through equity as well as digital tokens
The crypto venture capital company foresight ventures said that it would invest hundreds of million dollars in web3 startups and projects over a period of three years to capture part of the growth of the aspiring sector.
In a explanation shared with block works on Wednesday, Foresight said that it would provide between $ 100 and $ 200 million in risk capital for a number of crypto-assets, NFTS, blockchains and metavers. The company's investment portfolio includes the Financial Service Platform Matrixport and the Metaverse developer Everyrealm Hosts from other web3-focused Company.
Risk capital continues to flow into the web3 and meta-verse sector of the crypto industry, after it has already collected billions of dollars in a relatively short period from 2020.
That is despite the foaming market conditions Investments in everything has experienced, from NFTS providers (not fungeable tokens) to virtual worlds that try to use the new medium to reach a new audience.
The company, founded in April 2021, based in Singapore and Shanghai, has set itself the goal of providing additional support for "aspiring" projects with "disruptive potential" in its entire ecosystem.
Binance Labs, Polygon, Chainlinkavalanche, KryptoBörse Okex and NGC Ventures, Form part of the partner-Ökosystems from Foresight with which the support for the selected projects of the risk capital provider is reinforced.
" We are in an exciting time in the development of web3 and related technologies," said Forest Bai, co -founder of Foresight. “We will continue to search for exceptional investment opportunities in this area and support projects that we believe that they have the potential to become the market leader in their area.
BAI, a former investment banker, added that the company would concentrate more on “contrary investment opportunities” and that its company had invested $ 10 million in the crypto-primary market through a simple agreement for future tokens. "At the same time, we also invested more than $ 100 million in the crypto secondary market," said Bai.
When asked about the future investment prospects of the company, Bai told Blockworks that foresight intended to invest in equity with an 80/20 division of crypto-assets and, in addition to Web3, focus on Layer 1 and Layer 2 solutions.
Tony Cheng, General Partner of Foresight, who was previously announced by Sequoia Capital and 3G Capital as a TMT investor, said that the company had given him the opportunity to penetrate the "Web3-Werenloch".
"I am particularly interested in crypto infrastructure, scaling solutions and applications that bridge CEFI and Defi," said Cheng.
Foresight manages a wealth of $ 150 million and, according to its own statements, invests mainly in the primary and secondary market, both through stocks and through digital tokens. The ecosystem also includes the Bitget crypto exchange and the crypto wallet Bitkeep-a top 3 wallet in the region with more than 4 million users, including 200,000 active users per day.
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The Post-VC company foresight ventures to plow up to $ 200m in Web3 Startups Over 3 Years is not a financial advice.