Popular decentralized exchange (DEX) Uniswap has announced the creation of Uniswap Labs Ventures (ULV), a venture capital fund focused on investing in Web3 companies and projects.
According to the announcement made on Monday, March 11th, the company will
The company has already invested in 11 companies and Web3 protocols, including the decentralized money market Aave, the decentralized autonomous organization (DAO) behind the DAI stablecoin, MakerDAO, and the blockchain bridging protocol LayerZero.
In the announcement, Uniswap expressed what it was looking at other projects it was interested in funding, but did not disclose any other projects it was planning to invest in.
“We’re also focused on investing in projects that closely align with our values: build for the long term, work openly with communities, and put users first.”
In a Twitter thread Accompanying the announcement, Uniswap founder Hayden Adams shared that ULV plans to participate in the governance of projects in which it invests, adding that it plans to participate in the governance systems of Aave, Compound Finance, Ethereum Name Service and MakerDAO to participate.
As a crypto-native team, we can’t wait to support other projects in this space as they take off and grow
One unique aspect of ULV that I’m particularly excited about is our plans to participate in the governance systems of projects in which we invest
— hayden.eth (@haydenzadams) April 11, 2022
There was no mention of how much capital Uniswap’s venture fund managed.
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Uniswap has brought on Matteo Leibowitz as Ventures Lead and is leading the effort with Uniswap COO Mary-Catherine Lader. Leibowitz is the former Strategy Lead for Uniswap and was previously the Founder and Editor of the now-defunct Crypto Chat newsletter and Research Analyst at The Block.
Crypto companies are starting to diversify into venture capital firms. In January, centralized exchange FTX raised a $2 billion fund to invest in Web3 companies and most recently led a $350 million funding round for the NEAR Protocol (NEAR).
Interest in crypto from venture capital firms is on the rise, with research from Cointelegraph showing a staggering 144% surge in capital inflows into the space between 2020 and 2021, with DeFi being the most popular for investment.
Uniswap did not immediately respond to Cointelegraph when asked for comment.
https://cointelegraph.com/news/uniswap-launches-venture-capital-wing-for-web3-investments Uniswap launches venture capital wings for Web3 investments