Sino Global, Coinbase and Libra Alums Launch $60m Web3 Fund
Oak Grove Ventures is a $60 million fund founded by alumni of well-known names in the crypto and fintech industries. The fund focuses on Web3, artificial intelligence and biotechnology.
Oak Grove Ventures, based in Singapore, has a team that includes notable personalities such as Sally Wang (formerly Sino Global Capital, now Ryze Labs), Ethan Wang (former technical lead at Libra) and Shawn Shi (co-founder) of Alchemy Pay) and Michael Li, who was a former vice president of Coinbase.
“We know that building revolutionary technologies isn’t just about money. It’s also about creating a community of innovators and visionaries who share our passion. Our strategy with this fund is simple but profound: we want to raise money for founders”, Sally Wang said in a statement.
Oak Grove Ventures, which operated as a family business, has a track record of making successful investments in early stages. It has supported more than 30 projects, according to the press release. Oak Grove Ventures’ disclosed portfolio includes eight funds, 14 high-quality investments and Neuralink and SpaceX.
Blockchain Capital announced that it had raised $580m for two new funds focusing on crypto investments. A significant portion of the investors were traditional institutions, in spite of a difficult year for digital assets.
“Oak Grove Ventures, which operated as a family-owned company, has a track record of making successful early-stage investments and has previously backed more than 30 projects, according to the press release. Oak Grove Ventures’ disclosed portfolio includes eight funds, 14 high-quality investments, as well as Neuralink and SpaceX.”
“Blockchain Capital announced that it has raised $580 million for two new crypto funds, a large portion of which were traditional institutions. This is despite the fact that digital assets have had a difficult year.”
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