Venture Capital Firm MetaWeb Raises $30M for Early Stage Crypto Startups

Having operated in stealth mode for several months, the fund has invested in more than 30 startups.

AccessTimeIconSep 8, 2022 at 5:00 p.m. UTC
Updated May 11, 2023 at 6:53 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

MetaWeb Ventures, a venture capital firm focused on crypto startups, has raised $30 million for its first fund, backed by Sequoia Capital, Dragonfly Capital, the Near Foundation and others.

The fund aims to invest primarily in decentralized social media, decentralized finance (DeFi), gaming and decentralized autonomous organizations (DAO), MetaWeb said in an emailed announcement Thursday.

  • GSR Markets Exec on Crypto Buying Opportunities
    00:58
    GSR Markets Exec on Crypto Buying Opportunities
  • NEAR Protocol Co-Founder on Token Explosion and Raising $350M
    07:55
    NEAR Protocol Co-Founder on Token Explosion and Raising $350M
  • Crypto Markets React to LFG’s BTC Reserves, Musk Taking 9.2% Stake in Twitter
    12:42
    Crypto Markets React to LFG’s BTC Reserves, Musk Taking 9.2% Stake in Twitter
  • NEAR Surges Over 20% Following Terra UST Integration
    07:02
    NEAR Surges Over 20% Following Terra UST Integration
  • Having operated in stealth mode for the last few months, the fund has already invested in more than 30 startups, including decentralized exchange Orderly Network, which closed a $20 million funding round in June.

    “At the core, MetaWeb is unique in that we’re all builders who also invest – we have direct access to early projects as we can provide a very special kind of support to our founders,” Dani Osorio, a MetaWeb partner, said.

    MetaWeb Ventures was formed as an ecosystem fund for the Near Protocol, a layer 1 blockchain network on which decentralized applications (dapps) are built. Near aims to rival Ethereum with greater speed and lower transaction costs.

    The firm has extended its remit beyond Near, investing in applications on other networks, including Ethereum, Aurora and Cosmos.








    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.