News

Near Foundation Launches New $100 Million Investment Fund

The NEAR Foundation, a Swiss non-profit, announced the opening of a $100 million venture capital fund and innovation lab for web3.
Near Foundation Launches New $100 Million Investment Fund 3

The NEAR Foundation, which supports the governance and development of the NEAR protocol, will collaborate on the initiative with Caerus Ventures, a newly created investment firm.

NEAR’s latest development move comes as the platform is launching its biggest event of the year, named NEAR CON BETA, to be held in the Portuguese capital Lisbon, from Sept 11 to Sept 14, 2022.

The VC fund will have an initial closing of $50 million. It will attempt to bring in $100 million during seed to Series A investment rounds.

Caerus’ initial investment will be in the Venture Lab, which will focus on gathering innovators, talent, and franchise owners to build the next generation of web3 platforms and applications.

The CEO of the NEAR Foundation, Marieke Flament said:

“The Lab will offer cross-functional support to portfolio projects and will be supported by advisory partners who will be announced by the end of this year.”

Near Foundation Launches New $100 Million Investment Fund 4

Nathan Pillai, an executive who spent the previous five years with IMG/Endeavor, overseeing M&A and venture development of entertainment businesses such as Larry Ellison’s SailGP, launched Caerus.

Pillai said in a press released statement that he hoped the firm will “be a catalyst for innovation that unleashes a new generation of platforms, applications and services across sport, music, film, TV, fashion, art and gaming which offer greater equity for talent and consumers alike.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

11 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

27 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

55 minutes ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

1 hour ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

4 hours ago

This website uses cookies.