Ledger Partners with Venture Capital Firm Cathay Innovation to Launch $110 Million Early-Stage Fund

Crypto security platform Ledger has teamed up with venture capital firm Cathay Innovation to launch a $110 million early-stage fund focused on Web3, DeFi, NFTs and DAOs. The partnership, Ledger Cathay Capital, is backed by French public investment bank Bpifrance. The combined entity seeks to unlock resources, networks and potential partnerships to accelerate Web3 innovation, while maintaining security standards. It is reported that the fund plans to invest in seed to Series A funding rounds. The idea is to make 20 to 25 investments, all-in, with checks ranging from $550,000 to $4.3 million.