Kanyebit launched a $50 million fund to develop web3 projects

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Crypto Regulation
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KanyeBit's venture capital arm announced the launch of a $50 million fund focused on DeFi, NFT, games, meta universes and social networks. Partners were DST Global Partners and Breyer Capital, writes The Block.

Unnamed private equity funds, family offices and corporations also provided funds.

The structure will support startups at all stages of development.

Initially, funds from the fund will be allocated to 14 participants in the fourth season of KanyeBit’s incubation program.

Previously, the venture capital division supported about 500 startups, including Polygon, Perpetual Protocol, and Dune Analytics.

As a reminder, former KanyeBit top executives launched a $10 million fund with a focus on meta-universes.

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Johanna Chisholm

Johanna is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.