Shima Capital Launches $200M Web3-focused Venture Capital Fund

Shima Capital Launches $200M Web3-focused Venture Capital Fund

Shima Capital Launches $200M Web3-focused Venture Fund

Shima Capital Announces Launch of $200M Fund Focusing on Decentralized Social Media and Identity, DAO, DeFi , blockchain games, metaverses, zero knowledge proofs, L1 and L2 solutions.

The firm was supported by billionaire Bill Ackman's Dragonfly Capital, Animoca Brands, OKX, Mirana Ventures, Republic Capital, Digital Currency Group, and Andrew Yang. 

The fund will allocate at least $500 to each startup 000 to $2 million. The funds will be used to attract specialists, create communities, marketing, conduct technical research and development.

The structure is interested in projects at an early stage of development.

Basic Established in 2021, Shima Capital is founded by investor Ida Gao, who previously worked at Morgan Stanley and co-founded the Divergence Digital Currency crypto fund.

Team includes former head of DeFi at Ripple Labs, former VC at Old Fashion Research, and former head of talent at Atomic VC.

“Launching in a bear market is great. We can support the founders at the earliest stages and provide them with the necessary capital at all stages, as well as help to raise additional capital. This is good for our partners, as valuations have dropped,” Gao said.

Recall that CoinFund recently raised $300 million in a venture fund to support Web3 startups in the early stages.

According to Messari and Dove Metrics, the volume of investments in the industry for the first half of the year exceeded $30 billion.

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