Hack VC Raises $150M for Early-Stage Web3 and AI Startups
Hack VC, a renowned venture capital firm with a history of cryptocurrency investments since 2014, has successfully closed its first fund totaling $150 million. This achievement expands upon its initial $200 million seed fund, bringing its total commitments from both rounds to approximately $350 million.
Web3 and Gaming
The company strategically invested in pivotal areas, primarily focusing on early-stage Web3 infrastructure and gaming. Hack VC demonstrated deep interest in protocols, next-gen DeFi, Web3 games, and real-world asset tokenization. The company proudly manages assets valued at $425 million.
Hack VC stated, "We have the unique privilege of becoming institutional investors in Web3 across at least three market upcycles."
Mission
At the core of its mission, Hack VC revolves around supporting visionary individuals at the early stages of their projects. With a comprehensive platform designed to help founders access the market and achieve widespread success, Hack VC has trained a team of experts including engineers, quant traders, and researchers.
To ensure the success of its investments, Hack VC employs a rigorous testing process for the products and protocols it supports. Workshops and summits are organized for incubating projects, and the company has established a closely-knit partner network with selected projects.
Hack VC strategically invests at the intersection of Web3, gaming, and artificial intelligence. The company declared in a press release, "We are investing in blockchain infrastructure that can support general-purpose AI applications, as well as general-purpose AI infrastructure that can provide new decentralized experiences." Notable investments include Jasper AI, a general-purpose AI controller for enterprises, and Ritual, an AI processing unit for blockchain.
Despite the industry's ups and downs over the past two years, Hack VC views its new fund as a testament to its steadfast belief in Web3 technology. The company affirmed, "With our new fund, we are marking long-term believers in Web3 and committing to further sponsor core blockchain technology that we have invested in for a long time."
