Uniswap, the decentralized exchange, has disclosed the setting up of a venture cap fund purely focused on Web3 investments. Uniswap Labs Ventures, the entity, will put funds into Web3 projects and companies.
The company will invest during multiple development stages of technologies or projects that are linked to Web3, developer tools, consumer-linked applications, and infrastructure. The venture capital fund has announced these as its areas of core interest.
The fund has already made investments in eleven Web3 protocols and companies that include Aave, the non-custodial protocol, MakerDAO, the DAO which is the creator of the DAI stablecoin, and LayerZero, which is a bridging protocol.
Uniswap Wants To Be Part Of Governance In Firms It Invests
The company revealed the things it was looking for in projects it is intent on investing in. But it has not revealed future plans for investments.
The company revealed that it remained focused on participating in companies and projects aligned closely with the values held dear by the company. It plans to invest in long-term plans and wishes to collaborate closely with communities, putting the users first.
Hayden Adams, the founder of Uniswap shared his plans to be a part of the governing bodies of projects that they invest in. He said that Uniswap plans to be part of the governing systems of Ethereum Name Service, Compound Finance, Aave, and MakerDAO.
Adams shared that Uniswap was keen to support projects as they launch and grow. He said that he was excited about one unique aspect of the plans. It is about participation in the projects that the firm will be investing in.
Uniswap has not mentioned the number of venture funds under its management. Matteo Leibowitz has been tapped as the Ventures Lead. The former strategy head of Uniswap will team up with CEO Mary-Catherine Lader.
VC firms are increasing investments in crypto companies as they start to diversify. There has been an astounding 144% spurt in capital investment in 2020-21, with the maximum investment in DeFi.