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 <p class="is-style-lead">A new venture capital fund called Oak Grove Ventures has launched with $60 million to invest in the intersection of web3, artificial intelligence, and biotech.</p> 
 <p>According to a Sept. 19 Coindesk report, Oak Grove’s team includes Sally Wang, formerly of Sino Global Capital (a venture capital firm focused on blockchain technology), Ethan Wang (former tech lead at Facebook-backed digital currency project Libra), Shawn Shi (co-founder of <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> payment gateway Alchemy Pay) and Michael Li (former vice president at Coinbase).</p> 
 <blockquote class="wp-block-quote"> 
  <p>“We understand that the journey of building groundbreaking technologies is not just about capital; it’s about fostering a community of visionaries, pioneers, and founders who share our passion for innovation. With this fund, our strategy is simple yet profound: to raise funds for the founders.”</p> <cite>Sally Wang, Oak Grove’s head of investments</cite>
 </blockquote> 
 <p>Previously a family office that managed investments for a wealthy family, Oak Grove Ventures has a track record of notable early-stage investments. It supported over 30 projects, including SpaceX, the aerospace manufacturer founded by Elon Musk, and Neuralink, a neurotechnology company also founded by Musk.</p> 
 <p>The new $60 million fund comes as venture capital continues flowing into <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and blockchain startups, despite recent volatility in the digital asset market.</p> 
 <p>Oak Grove aims to leverage expertise from the <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency ecosystem to identify promising opportunities at the intersection of Web3, AI, and biotech.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Sequoia Capital cuts its crypto fund by 65% 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/coinbase-sino-and-libra-launch-a-60m-crypto-fund-tbt63227.html">https://thebittimes.com/coinbase-sino-and-libra-launch-a-60m-crypto-fund-tbt63227.html</a></p>

Coinbase, Sino and Libra launch a $60m crypto fund

TheBitTimes

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