LongHash launches $100 million fund focused on DeFi, NFT, GameFi, Metaverse

Rick Steves

LongHash Ventures has backed more than 60 projects, including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe, and Balancer.

Singapore ranked number 3 financial center globally

Singapore MAS-authorized LongHash Ventures has launched a new fund worth $100 million after the Asian Web3 VC received strong support from global investors and industry veterans for its successful first close.

The LongHash Ventures Fund II is backed by several Web3 VCs, single family offices, and Web3 founders such as Hashkey Capital, NGC Ventures, Protocol Labs, Gnosis Safe, MEXC, Synthetix founders Kain and Jordan Warwick, Qiming VC founding partner Duane Kuang, and Astar founder Sota Watanabe, amongst others.

Once the fund stops taking in capital, which will happen by year end, it will focus on multi-chain Web3 infrastructure projects that support key verticals such as DeFi, NFT, GameFi, and the Metaverse. The LongHash Ventures Fund II will be investing in projects and teams from pre-seed to Series A.

The fund will also invest in projects graduating from its accelerator arm LongHashX, which has recently obtained funding at an undisclosed valuation from Superscrypt, a Web3 investment firm founded by Temasek, as well as a few large fund LPs including NGC, according to the firm. LongHashX is “the go-to partner for protocols like Polkadot, Filecoin, Algorand, among others”. Alumni projects include Astar, Xanpool, and Lit Protocol.

Bootstrap the Asia ecosystem

Emma Cui, Founding Partner and CEO of LongHash Ventures, said: “By running both an accelerator and an early stage fund that provides hands-on support, our unique value lies in leveraging LongHashX to bootstrap the Asia ecosystem for the protocols that we invested in, as well as in identifying founders and projects with massive potential very early on, and using our crypto-native knowledge and resources to help the teams achieve their potential and succeed. The second fund will enable us to support more founders and through subsequent rounds.

“In addition, being geographically headquartered in Singapore with team members distributed across Asia, including China, Malaysia, and India, we are uniquely positioned to help projects scale faster across the Asian region.”

Thus far, LongHash Ventures has backed more than 60 projects, including Polkadot, Astar, Dodo, Coinshift, Acala, Zapper, Gnosis Safe, and Balancer. The firm helps founders develop their projects’ tokenomics, governance, and communities.

The LongHashX Accelerator has partnered with Polkadot, Algorand, Filecoin, and others to build more than 50 global Web3 projects which have raised more than $150m in the past 4 years.

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