Dispersion Capital Releases a $40M Web3 Venture Fund

Patrick Chang, the founder of Dispersion Capital, has announced the launch of a $40 million venture fund dedicated to investing in Web3 infrastructure.

This fund is intended to benefit startups in the early stages of development, which are focused on creating a “multi-chain, multi-currency, and multi-platform world.”

This ambitious project has already seen many successes; 20 companies have already received funding from the fund.

Ripple, HashKey, Wemade, Circle Ventures, Alchemy Ventures, Cherubic Ventures, Forte, and NGC, have all shown their support for such an innovative endeavor.

Chang’s goal is to bring Web3 to a level on par with cloud computing. Dispersion Capital is particularly interested in projects exploring specific areas within Web3, such as fintech, gaming infrastructure, security, data, and platforms that challenge legacy industries.

According to data gathered in January-March 2023 by PitchBook, the volume of venture capital investments in crypto-firms within 353 funding rounds amounted to $2.6 billion, representing the lowest amount since Q4 of 2020.