Monday, May 16, 2022
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • en English
    ar Arabicbg Bulgarianzh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
Crypto Miracles
Advertisement
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
Crypto Miracles
No Result
View All Result
Home Bitcoin

New Zealand VC Launches $5 Million Web3 and Crypto-Focused Fund – Finance Bitcoin News

May 6, 2022
in Bitcoin
Reading Time: 4 mins read
0
New Zealand VC Launches $5 Million Web3 and Crypto-Focused Fund – Finance Bitcoin News
Share on FacebookShare on TwitterPinShare on Reddit

Related articles

Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC

Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC – Markets and Prices Bitcoin News

May 16, 2022
Goldman Sachs' Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It's a 'Very, Very High Risk'

Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’ – Economics Bitcoin News

May 16, 2022


New Zealand-based venture capital firm Global From Day 1 (GD1) recently said it had launched a $5 million Web3 and crypto-focused venture capital fund to back local startups. The fund will invest in pre-seed to Series A companies across decentralized finance (defi), decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and Web3.

GD1’s Web3 and Crypto Strategy

In a boost for New Zealand-based startups and local investors, GD1 has launched a $5 million Web3 and crypto-focused venture capital fund. The fund, known as GD1 Crypto Fund 1, will be led by cryptocurrency and Web3 expert Nawaz Ahmed as a general partner. Remarking on what the incoming general partner is expected to bring, Vignesh Kumar, the co-managing partner at GD1, said in a press release:

One of our goals at GD1 has always been to diversify into new focus areas and continuously expand our knowledge base by onboarding individuals with diverse and interesting experiences and so we’re thrilled to have Nawaz join the GD1 team to help lead our web3/crypto strategy.

Kumar added that Nawaz’s work grants GD1 a vital platform to test the fund’s “thesis around the concept of permissionless innovation that web3 is built on.”

According to the statement, the fund’s first close is set for June and there are expectations it will be oversubscribed with early commitment from international Limited Partners. The statement, meanwhile, clarified that the GD1 Crypto Fund 1 is separate from GD1 Fund 3.

Missed Opportunity

For his part, Ahmed spoke of how of local startups appeared to only seek funding from offshore sources. He said:

“In the past, the very best NZ companies in this space have easily been able to raise funds globally and haven’t needed to rely on local investment. This is a missed opportunity for NZ-based funds and one we’d like to be the first to explore.”

As Ahmed acknowledges, several funds specifically focused on the metaverse, Web3, and cryptocurrency have sprouted over the past few years. However, unlike GD1’s fund, some of the global venture capital groups like Griffin Gaming Partners, a VC firm specializing in gaming-related investments, have launched larger funds.

As recently reported by Bitcoin.com News, Griffin Gaming Partners has set aside $750 million to fund Web3 and blockchain projects. Earlier this year, Electric Capital is reported to have raised $1 billion to back crypto startups and to buy tokens, while Dragonfly Capital closed its fund for an oversubscribed $650 million.

Meanwhile, the New Zealand VC’s statement revealed that GD1 will be investing in pre-seed to Series A companies across decentralized finance, decentralized autonomous organizations, non-fungible tokens, Web3, and crypto infrastructure.

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Share2Tweet1PinShare
Previous Post

KCC Unicorn Carnival Week, Share $100,000 as KCC Explorers | NewsBTC

Next Post

SEC and CFTC should work to regulate cryptos

Related Posts

Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC

Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC – Markets and Prices Bitcoin News

by
May 16, 2022
0

Famed value investor and fund manager Bill Miller says he has “a lot” of bitcoin and has not sold...

Goldman Sachs' Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It's a 'Very, Very High Risk'

Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’ – Economics Bitcoin News

by
May 16, 2022
0

Goldman Sachs Senior Chairman and former CEO Lloyd Blankfein has warned that companies and consumers should prepare for a...

Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD

Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD – Bitcoin News

by
May 15, 2022
0

Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the...

Onchain Analysis Report Says Terra's Bitcoin Reserves Were Sent to Binance and Gemini

Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini – Bitcoin News

by
May 15, 2022
0

After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s...

Ethereum Hashrate Taps an All-Time High Amid This Week’s Crypto Market Meltdown – Mining Bitcoin News

Ethereum Hashrate Taps an All-Time High Amid This Week’s Crypto Market Meltdown – Mining Bitcoin News

by
May 15, 2022
0

Amid the crazy week in the world of cryptocurrencies and the Bitcoin network’s mining difficulty reaching a lifetime high...

Load More
Next Post
SEC and CFTC should work to regulate cryptos

SEC and CFTC should work to regulate cryptos

Here’s where to buy Project Galaxy

Here’s where to buy Project Galaxy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions.

one × four =

Crypto Miracles

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics, and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency.

Categories

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Business
  • Dogecoin
  • Ethereum
  • Guide
  • Interview
  • Litecoin
  • Market
  • Opinion
  • Press Release
  • Regulation
  • Ripple
  • Technology
  • Uncategorized

Recent Posts

  • Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC – Markets and Prices Bitcoin News
  • Breaking: India May Soon Ban Crypto Celebrity Endorsements
  • Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’ – Economics Bitcoin News

Newsletter

    • About Us
    • Contact Us
    • Privacy Policy
    • Terms and Conditions

    cryptomiracles.com © 2021 All rights reserved.

    No Result
    View All Result
    • Home
    • Crypto News
      • Bitcoin
      • Ethereum
      • Dogecoin
      • Litecoin
      • Ripple
      • Altcoin
      • Press Release
    • Blockchain
    • People
      • Opinion
      • Interview
    • Business
    • Technology
    • Market
    • Analysis
    • Live Price
    • Regulation
    • Guide

    cryptomiracles.com © 2021 All rights reserved.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.