Venture firm Bessemer announces $250 million fund for decentralized tech

Bessemer Venture Partners, a San Francisco-based venture capital firm, announced on Wednesday a $250 million investment fund for entrepreneurs in the decentralized tech space. 

The fund has a specific focus for individuals working in consumer crypto, or those working to increase widespread adoption of decentralized technology in areas such as gaming, marketplaces or the metaverse, web3 infrastructures like wallet services and smart contracts, and decentralized finance (DeFi). 

Bessemer partners Ethan Kurzweil, Charles Birnbaum, Talia Goldberg and Jeremy Levine are leading the decentralized tech fund, with help from Mike Giampapa, Lindsey Li, Alexandra Sukin, Aditya Nidmarti and Sarah Du.

Bessemer has already invested in web3 entrepreneurs including Jay Chang of the Solana-based game Genopets, Josh Fried of Solana and Esteban Castaño of TRM Labs, among others. 

Along with the $250 million fund for decentralized tech, Bessemer has also launched BessemerDAO, a tool for community engagement and product development among entrepreneurs in the web3 industry.