NEAR protocol spin-off Open Web Collective launches venture arm to invest in early-stage web3

09/19 13:15

According to Techcrunch, Open Web Collective, a blockchain and web3 accelerator, has launched a new division called OWC Ventures to invest in early-stage crypto startups, the team exclusively told TechCrunch. The division is backed by Barry Silbert’s Digital Currency Group and the blockchain protocol NEAR (which OWC previously spun out from), Jeff Lavoie, head of investments at OWC Ventures, said to TechCrunch. There will also be a fund behind OWC Ventures, which has not closed yet, but the team said it anticipates “raising a $20 million vehicle for pre-seed to Series A deals with co-investment opportunities.”

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