<![CDATA[<figure class="image"><img src="https://cimg.co/news/124965/330082/investment.jpeg" srcset="" width="" class="content-img" alt=""><figcaption>Source: AdobeStock / peshkova</figcaption></figure>The New York-based crypto-focused investment firm Reverie has launched Reverie Fund One, a $20 million venture capital fund that will invest in Web3 startups.The launch of the new fund was announced on X on Thursday by Larry Sukernik, co-founder of Reverie, who promised that the launch would come with &ldquo;no hype, no gimmicks.&rdquo;&ldquo;Reverie is for founders who want to build amazing products and generational companies,&rdquo; Sukernik wrote.He added that the new fund has been set up to help startups in the Web3 world specifically with &ldquo;things that move the needle,&rdquo; including making introductions, iterating product, and building an ecosystem around crypto infrastructure.<figure class="media"><oembed url="https://twitter.com/lsukernik/status/1702311039331697055"></oembed></figure><h2 id="a-crypto-native-fund">A &lsquo;crypto-native&rsquo; fund</h2>The company also described its new venture fund in a blog <a href="https://www.reverie.ooo/post/reverie-fund-one">post</a> where it emphasized that it is &ldquo;crypto-native and business-native,&rdquo; and looking to help founders realize their visions.In the post, Reverie explained that they believe the next generation of crypto founders will make &ldquo;a complete 180&rdquo; from earlier crypto founders who focused on &ldquo;complicated mechanism design and convoluted products that have little to no users.&rdquo;&ldquo;[&hellip;] we believe the next generation of crypto founders will care more about users, revenues, and profits &mdash; the basic ingredients that make every great company in the world,&rdquo; the firm wrote.Further, the post rejected the popular notion that speculation is the key to onboarding new people to crypto.&ldquo;We have to reject that premise &mdash; most founders in the world aren&rsquo;t interested in building products for speculators,&rdquo; the team wrote, while adding:<blockquote>&ldquo;Who wants to run an online casino for meme tokens when you can build a crypto product that can change the world?&rdquo;</blockquote>
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Investment Firm Reverie Sets Up $20 Million Crypto Venture Fund for Web3 Startups

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