LongHash Ventures Launches Its $100 Million Web3 Venture Fund II with Successful First Close
2022.08.11 23:10
LongHash Ventures Launches Its $100 Million Web3 Venture Fund II with Successful First Close
LongHash Ventures, Asia’s first Web3 Accelerator and one of Asia’s leading Web3 venture funds, officially announces the launch of its $100 million LongHash Ventures Fund II.
LongHash Ventures has received strong support from global investors and industry veterans for its successful first close. It has raised capital from well-known Web3 VCs, single family offices, and Web3 founders such as Hashkey Capital, NGC Ventures, Protocol Labs, Gnosis Safe, MEXC, Synthetix founders Kain and Jordan Warwick, Qiming VC founding partner Duane Kuang, and Astar founder Sota Watanabe, amongst others. The fund will continue to take in capital until the end of the year. Meanwhile, its accelerator arm LongHashX has recently obtained funding at an undisclosed valuation from Superscrypt, a Web3 investment firm founded by Temasek, as well as few large fund LPs including NGC.
LongHash Ventures has earmarked its second fund for multi-chain Web3 infrastructure projects that support key verticals such as DeFi, NFT, GameFi, and the Metaverse. It will be investing in projects and teams from pre-seed to Series A. Thus far, LongHash Ventures has backed more than 60 projects, including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe and Balancer.
LongHash Ventures Fund II will also be investing in the pipeline of projects graduating from its accelerator arm LongHashX. Since its inception in 2018, the LongHashX Accelerator has emerged as Asia’s leading Web3 accelerator. It is the go-to partner for protocols like Polkadot, Filecoin, Algorand, and others looking to accelerate the growth of their respective ecosystems. Accelerator alumni include well known projects such as Astar, Xanpool, and Lit Protocol.
“By running both an accelerator and an early stage fund that provides hands-on support, our unique value lies in leveraging LongHashX to bootstrap the Asia ecosystem for the protocols that we invested in, as well as in identifying founders and projects with massive potential very early on, and using our crypto-native knowledge and resources to help the teams achieve their potential and succeed. The second fund will enable us to support more founders and through subsequent rounds,” said Emma Cui, Founding Partner and CEO of LongHash Ventures.
“In addition, being geographically headquartered in Singapore with team members distributed across Asia, including China, Malaysia, and India, we are uniquely positioned to help projects scale faster across the Asian region.”
About LongHash Ventures
LongHash Ventures is a leading Web3 investment fund and accelerator collaborating closely with founders to build their Web3 model and tap into the vast potential of Asia. We have invested in more than 60 projects including Polkadot, Instadapp, Zapper, Astar, and Balancer. We collaborated with their founders to develop their projects’ tokenomics, governance, and communities.
As Asia’s first and leading Web 3 accelerator, LongHashX Accelerator has partnered with Polkadot, Algorand, Filecoin and others to build more than 50 global Web3 projects which have raised more than $150m in the past 4 years. We are committed to realizing our mission of catalyzing growth for the next generation of the Web.
LongHash Ventures is licensed by the Monetary Authority of Singapore.
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