In a surprising entry to the blockchain venture capital space, Paper Ventures has launched a $25 million venture capital fund dedicated to supporting early-stage blockchain startups. Founded by Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov, Paper Ventures brings a wealth of experience in Web3 investments with a vision to make a lasting impact on the blockchain landscape.
Founders with a strategy
With roots in Web3 investments dating back to 2010, the founders of Paper Ventures have capped their fund at $25 million, focusing strategically on early-stage projects where they believe they can provide maximum value. The trio not only aims to inject capital but also actively nurture identified projects, leveraging their broad industry experience and networks.
Building Bridges for Success
Paper Ventures pledges to use its founders’ extensive industry experience and connections to provide portfolio projects with crucial resources and connections for success. The $25 million fund saw participation from traditional hedge funds, family offices, exchanges, founders, and other high-net-worth crypto OGs.
Diverse Investment Focus
The founders, having navigated multiple market cycles since 2010, have been early backers of dominant projects like Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam, and Cosmos. Their diverse portfolio extends to gameFi projects such as Merit Circle/Beam, Illuvium, and YGG. The team expressed their commitment to empowering visionary entrepreneurs and catalyzing disruptive technologies across various sectors.
Filling a Gap in Funding Landscape
Addressing concerns about potential over-investment in the sector, the founders highlighted their unique approach. They noted a gap in pre-seed and seed-stage funding, emphasizing the need for founder-first support. While acknowledging a historical trend of overinvestment in recent years, Paper Ventures aims to provide hands-on assistance to founders building businesses from the outset.
Empowering Blockchain Entrepreneurs
Danish Chaudhry, with a background in traditional finance and a history of successful exits, expressed excitement about investing in groundbreaking ideas and using his experience to elevate brilliant minds in the blockchain space. Ivailo Jordanov, a decentralized finance native, shares a commitment to empower entrepreneurs and contribute to the next wave of impactful change.
Future Focus and Strategic Alliances
Paper Ventures, while emphasizing their current focus on games and a yet-to-be-announced deal, clarified that their interests extend across sectors. The founders believe they are still in the early stages of the industry, presenting significant opportunities for strategic investments and strong returns.
Paper Ventures‘ $25 million fund marks a strategic move to contribute actively to the blockchain and Web3 landscape. With a commitment to nurturing early-stage projects and a hands-on approach to support, Paper Ventures aims to be at the forefront of innovation and technology, propelling the industry forward.
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Q1. How does Paper Ventures plan to address concerns about over-investment in the blockchain sector?
Paper Ventures aims to fill a gap in the funding landscape by focusing on pre-seed and seed-stage funding, providing founder-first support rather than large checks. This approach sets them apart from funds focused on realizing returns from earlier investments.
Q2. What sectors does Paper Ventures plan to invest in, apart from games?
While currently emphasizing games, Paper Ventures expressed interest in all sectors. Their goal is to catch pre-seed opportunities across diverse industries and contribute to the early stages of projects, fostering innovation from the outset.