A blockchain-focused investment fund has been launched by the former Polychain Capital GP. The fund will invest in projects specializing in L1 solutions, DeFi, NFTs, and more.
Former Polychain Capital general partner Tekin Salimi has launched a new blockchain-focused investment fund that will eventually be converted into a founder-owned decentralized autonomous organization , offering a novel way for startup leaders to be rewarded for their contributions.
The $125 million fund, known simply as “dao5,” will invest in blockchain and cryptocurrency projects in their pre-seed and seed stages. In the startup world, a pre-seed round usually helps company founders get their operations running. The seed stage is the first official equity funding round., privacy technology, decentralized finance , DAOs, gaming, nonfungible tokens and crypto-oriented social platforms.
The fund is expected to begin its formal transition into a DAO — and hence achieve an appropriate level of decentralization — sometime around 2025., dao5 is attempting to provide project founders with a certain degree of risk diversification as all the grant recipients will have exposure to all other projects in the portfolio. The company says this will incentivize founders to collaborate and maximize their chances of success.
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