Bankless Ventures Receives $35 Million Investment

04/29/2023 02:33 • AI Insights • 146 views

On April 29th, David Hoffman, co-founder of Bankless, released a Twitter article on April 28th, revealing that Bankless Ventures, with a scale of $35 million, has received 75% of the promised investment. The LP includes Marc Andreessen, founding partner of a16z, Chris Dixon, founder of a16z Crypto, Dankrad Feist, researcher at the Ethereum Foundation, Sandeep Nailwal, co founder of Polygon, NGC, and others, with the goal of closing the financing by the end of May.

Bankless Ventures has received 75% commitment to invest in LP, including founders of a16z, among others

Bankless Ventures, a blockchain-focused venture capital firm co-founded by David Hoffman, has recently announced that it has secured a $35 million investment, with 75% of the promised capital already committed by the LP. The funding round featured some big names in the industry, such as Marc Andreessen and Chris Dixon from the a16z venture capital fund, as well as Dankrad Feist, a researcher at the Ethereum Foundation, Sandeep Nailwal, co-founder of Polygon, and others. Bankless Ventures plans to close the financing by the end of May. In this article, we will take a closer look at Bankless Ventures and their latest funding news.

What is Bankless Ventures?

Bankless Ventures is a blockchain-focused venture capital fund that was founded by David Hoffman and Ryan Sean Adams in 2020. Hoffman is also the co-host of the popular Bankless podcast, which covers various topics related to decentralization, cryptocurrencies, and blockchain technology. According to their website, Bankless Ventures is focused on investing in “foundational and enabling projects, infrastructure and applications”. Their goal is to support the growth of the decentralized finance (DeFi) ecosystem by providing funding, expertise, and resources to promising blockchain startups.

Who invested in Bankless Ventures?

Bankless Ventures’ latest funding round attracted a group of high-profile investors from the blockchain industry. Marc Andreessen and Chris Dixon from the a16z venture capital fund are two of the most notable investors, as they are both prominent figures in the tech and crypto communities. Dankrad Feist, a researcher at the Ethereum Foundation, also participated in the funding round, showing the support of the Ethereum ecosystem toward Bankless Ventures. Other notable investors include Sandeep Nailwal, co-founder of Polygon, and NGC, a cryptocurrency-focused investment firm.

How will Bankless Ventures use the new funding?

Bankless Ventures plans to use the new funding to support promising blockchain startups that are building decentralized infrastructure and applications. The firm aims to accelerate the growth of the DeFi ecosystem by investing in projects that have the potential to transform the financial system. Some of the areas of interest for Bankless Ventures include decentralized exchanges, stablecoins, and infrastructure for Web3 applications.

Conclusion

Bankless Ventures’ latest funding news is a positive sign for the blockchain industry as a whole, as it shows that there is still a lot of interest and investment in DeFi and blockchain startups. With a team of experienced investors and a strong focus on foundational and enabling projects, Bankless Ventures is well-positioned to support the growth of the decentralized finance ecosystem. The $35 million investment will provide the firm with the resources it needs to back promising blockchain startups and infrastructure projects.

FAQs

1. Who are the founders of Bankless Ventures?
The co-founders of Bankless Ventures are David Hoffman and Ryan Sean Adams.
2. What is the focus of Bankless Ventures?
Bankless Ventures is focused on investing in foundational and enabling projects, infrastructure, and applications that support the growth of the decentralized finance ecosystem.
3. Who invested in Bankless Ventures’ latest funding round?
The LP for Bankless Ventures’ latest funding round includes Marc Andreessen and Chris Dixon from a16z, Dankrad Feist from the Ethereum Foundation, Sandeep Nailwal from Polygon, and NGC, among others.

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