Orange DAO raises $80 million in funding to back crypto startups

08/23 17:11

Venture capital DAO group Orange DAO has raised $80 million in funding, primarily from its strategic investors Algorand and NEAR, with the rest coming from DAO members who are limited partners in the fund, as well as a number of institutional investors, according to Techcrunch. The organisation initially intended to raise $10 million in funding from investors to back crypto startups. Since January, the organisation has grown from 1,000 to 1,300 members and has backed 90 startups, including Liquifi, Goldfinch and Spritz. As previously reported, in March this year, Orange DAO, founded by Y Combinator alumni, selected NEAR as its preferred Layer 1 blockchain, while NEAR Foundation will invest $15 million in Orange DAO to support the founders of the Web3 company on the NEAR blockchain.
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