MetaWeb Secure $30M in a Seed Round To Build Web3.0

San Francisco-based venture capital company MetaWeb has secured $30 million in its first funding round focused on early startups. 

According to the announcement, the fund tagged Fund I will be invested in decentralized finance (DeFi), decentralized social media, decentralized autonomous organizations (DAOs) as well as gaming. Specifically stated in a tweet made by the venture capitalist, the fund will be utilized to ‘support developers and entrepreneurs building the future of Web3.0.’

The round received support from Sequoia Capital, Dragonfly Capital, the Near Foundation GSR Markets, Octopus Network, SevenX, and Mentha Partners. Some other individual players in the crypto industry like NEAR’s co-founder Illia Polosukhin, Matrix China’s co-founder Bo Shao, Alchemy Pay’s founder Shawn Shi, and Dodo’s co-founder Mark Wang, also joined the round.

MetaWeb Empowers Other Crypto Firms

MetaWeb is a venture capital company recognized for its investments in pre-seed and seed rounds. Amos Zhang and Dani Osorio are responsible for leading and overseeing the operations of MetaWeb. 

Although the startup had been treading carefully in the last few months, the fund has contributed its investments in up to 33 startups. Orderly Network which recently bagged $20 million from investors including currently bankrupt crypto lender 3AC, is a part of MetaWeb’s beneficiary startups.

A few others who were enriched by the venture capital firm include Niche, CornerstoneDAO, Sender Wallet, Kino, and Play3. Blockchain security firm, BlockSec which recently announced that it secured $8 million in a seed round, is also part of the startups which have benefited from MetaWeb investment.

Dani Osorio pointed out that “At the core, MetaWeb is unique in that we’re all builders who also invest– we have direct access to early projects as we can provide a very special kind of support to our founders.”

Additionally, Amos Zhang also made a comment which synced significantly to Osorio’s statement. He said that “We founded MetaWeb to back the future Web3 leaders who will disrupt the world through blockchain. As former entrepreneurs, we will work side by side with the founders throughout their journey.”

Making projections from the turnout of ‘Fund I’, ‘Fund II’ will follow suit in 2023.