<![CDATA[<figure class="image"><img src="https://cimg.co/news/125231/330805/6a5a6691fe-1.jpg" srcset="https://cimg.co/news/125231/330805/responsive-images/6a5a6691fe-1___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/125231/330805/responsive-images/6a5a6691fe-1___media_library_original_900_600.jpg 900w, https://cimg.co/news/125231/330805/responsive-images/6a5a6691fe-1___media_library_original_720_480.jpg 720w, https://cimg.co/news/125231/330805/responsive-images/6a5a6691fe-1___media_library_original_600_400.jpg 600w, https://cimg.co/news/125231/330805/responsive-images/6a5a6691fe-1___media_library_original_300_200.jpg 300w" width="1200" class="content-img" alt=""><figcaption>Source: Adobe/bignai</figcaption></figure>On September 19th, Oak Grove Ventures made a significant foray into venture capital by <a href="https://www.coindesk.com/markets/2023/09/19/sino-global-coinbase-and-libra-alums-start-60-million-web3-fund/">launching</a> a substantial $60 million fund. The fund strategically focuses on cutting-edge technology, with a keen interest in artificial intelligence (AI), Web3, and biotech.Oak Grove Ventures boasts a team of accomplished professionals, many of whom hail from renowned crypto and fintech firms, each with extensive industry experience.Given their roles as former thought leaders, this collective expertise positions Oak Grove's venture capital members to provide valuable strategic support in various areas, including financing, strategy, technology, operations, and more.The company's team lineup includes notable figures such as Shawn Shi, the co-founder of Alchemy Pay; Ethan W, the former technical lead of Libra; Sally Wanga, the former VP of Ryze Labs (formerly Sino Global); Zac Pan, the former assistant partner of Lightspeed China; and Michael Li, a technical advisor and former VP of Coinbase, among others.Before its venture capital endeavors, Oak Grove Ventures operated as a family office, boasting a successful track record in early-stage investments.Over the years, they have invested in more than 30 projects, with some standout investments including ventures like the aerospace manufacturer and Neuralink, both founded by Elon Musk.In addition, their portfolio includes key players in the Web3 space such as Gemini, OpenSea, ConsenSys, and Animoca, as highlighted in the company's official press release."The co-found of Oaks Grove Ventures fund, Sally Wang, stated that:<blockquote>"We understand that the journey to creating breakthrough 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 but profound: raise money for founders,"&nbsp;</blockquote><h2 id="recent-funding-initiatives-demonstrate-ongoing-commitment-to-crypto-and-blockchain-despite-market-volatility">Recent Funding Initiatives Demonstrate Ongoing Commitment to Crypto and Blockchain Despite Market Volatility</h2>The newly established $60 million fund from Oak Grove Ventures represents a significant venture capital injection into the crypto and blockchain startup space, demonstrating a robust commitment despite recent market volatility.This development closely follows the announcement from <a href="https://cryptonews.com/news/blockchain-capital-raises-580-million-for-new-cryptocurrency-investment-fund-heres-latest.htm">Blockchain Capital</a>, which triumphantly raised an impressive $580 million across two new funds.The first, a $380 million early-stage fund, will concentrate on newer companies and protocols in pre-seed and Series A rounds. This fund follows the firm's fifth early-stage fund, valued at $300 million and launched in June 2021.The second, a $200 million opportunities fund, will target late-stage investments from Series B onward, providing access to companies with substantial prior funding.&nbsp;The allocated funds will target six key sectors: decentralized finance, centralized finance, centralized infrastructure, decentralized infrastructure, gaming, and consumer/social technologies.These launches are particularly noteworthy given the challenges the digital asset market has faced over the past year.Despite this, Blockchain Capital has successfully garnered support from traditional institutions like <a href="https://cryptonews.com/news/paypal-visa-other-investors-double-down-on-their-crypto-inve-10789.htm">Visa and PayPal</a> and secured investments from esteemed entities such as university endowments and sovereign wealth funds.Also, yesterday, Japan's largest investment bank, <a href="https://cryptonews.com/news/global-investment-bank-nomura-launches-institutional-bitcoin-fund-adoption-rise.htm">Nomura</a>, unveiled its Bitcoin Adoption Fund through its crypto subsidiary, Laser Digital. The initiative's primary goal is to create a straightforward and efficient gateway for institutional investors to enter the rapidly evolving digital asset space, positioning itself as a cost-effective and secure investment option.
]]>

Prominent Crypto and Fintech Alumni Launch $60M Oak Grove Ventures Fund

Table of Contents

Cryptonews.com

Other articles published on Sep 20, 2023

Renewable energy milestone opens door for Tesla to resume crypto payments

Nike is 20% Down YTD, But Can it Run Again?

Ripple CEO Takes Photo Outside SEC Building

From Dogecoin Millionaire to a $50K Wake-Up Call: Will This Investor Now Bet on Domini.art’s Risi...

Algorand Foundation Announces Build-A-Bull Hackathon in collaboration with AWS

Bybit adds PayPal USD stablecoin, PYUSD, to its platform

Join our free newsletter for daily crypto updates!