Kanyeswap launched a $50 million fund to develop web3 projects

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Crypto Regulation
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KanyeSwap'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 KanyeSwap’s incubation program.

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

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

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Adam Smith

Adam Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Adam’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Adam also covers other rapidly developing markets and economic and cryptocurrency studies.