The founder of blockchain, a venture capital fund suitable for the selection of Web3 and blockchain technology, announced that 75 million yuan of equity financing from Polygon, Ripple, Octava, NEO Global Capital, AppWorks, GSR, LD Capital, Metavest Capital and other companies has been completed. Sandboxie game chief strategy officer Robert Sebastian Bogai (Sebastien Borget) and other companies also participated in equity financing.

According to the announcement, the fund will focus on the development of early pre-seed and seed projects with high development potential, encouraging the selection of Web3 and block chain technology on a large scale. The fund has already invested in more than 100 startups, including Alternate State Machine, Splinterland, GRID, Krayon and Magna.

Alibaba Madhav Ji, managing partner of blockchain founder Fund, said in an interview with Cointelegraph that the venture capital fund is likely to cover more than 200 companies in the next 12 months.

When it comes to the fact that Web3 startups can find asset requirements and methods from blockchain founder funds, Madhavji shares that this will focus on early-stage Web3, a company with a strong team and proven ability to implement their vision. In addition, such projects need to provide products or services that meet the needs of specific markets, with clear income increases or monetized placement over time. Such a project must also have a clear and practical business plan that demonstrates a solid understanding of market positioning and industry patterns.

Referring to some of the key tests in the field of login password venture capitalists and how blockchain founders' funds can effectively address them, Madhavji shared: "there is increasing competition for buying and selling transactions, management uncertainty and a limited track record of successful new projects. To cope with this test, people are committed to investing in these high-quality start-ups with deep fundamentals and solid signs of driving force.

Madhavji also told Cointelegraph that blockchain founder funds use elite teams as the core in evaluating deals to ensure that only all-round elite teams have access to assets. He added:

We take corresponding preventive measures, actively maintain the same direction with the new direction of block chain regulation, and control the variability of management. In the end, we use our own domain linkages, including leading institutions and investors in this field, to help our own asset allocation companies succeed.

On Feb. 24, Cointelegraph reported a report on the decline in investor risky capital spending in the fourth quarter of 2022. However, despite the adjustments, investors are still looking for financial support for blockchain-based expertise, applications and startups.

The report also mentioned that investment in fund use projects has been transformed into "non-volatile independent innovation", including cross-chain highway bridges, payment and remittance, borrowing, decentralized autonomous organizations, investment management and digital identity management methods.