Venture Capital Firm MetaWeb Raises $30M for First Fund

MetaWeb Ventures, a venture capital firm focused on crypto startups, has raised $30 million for its first fund, backed by Sequoia Capital, Dragonfly Capital, the Near Foundation and others. The fund aims to invest primarily in decentralized social media, DeFi, gaming and DAO, MetaWeb said in an emailed announcement Thursday. MetaWeb Ventures was formed as an ecosystem fund for the Near Protocol. Having operated in stealth mode for the last few months, the fund has already invested in more than 30 startups, including decentralized exchange Orderly Network.