The crypto fund variant puts $450 million aside for the investment purpose in early-stage crypto startups in the down market.
A venture capital fund A16z, invested $50 million in the latest project of Gary Vaynerchuk.
While Quasar finance closes $6 million in funding to build on Cosmos.

The Venture Funding

Sustained erect volatility in cryptocurrency markets and does not lower the passion of institutional investors. But it supports promising digital asset-focused startups.

The variant, which is an early-stage crypto venture company, raised $450 million across two recent funds. Worth total, $300 million is marked as an opportunistic fund and the remaining $150 million is for the investments in early-stage Web3 projects. While the focus is on DeFi, blockchain infrastructure, Web3 users applications, and ownership firms.

Previously, the venture companies invested in some major projects inclusive with Uniswap, Polygon, and Phantom. Additionally, Andreessen Horowitz (A16z) partnered with Gary Vaynerchuk to lead $50 million for its latest NFT collection, VeeFriends.

The general partner of A16z Chris Lyons, said in his statement, that “From launching Wine Library to his success with VaynerX and Vayner Sports, Gary was one of the first entrepreneurs to bring everyone along for the journey through compelling motivational and business-oriented content.”

gm! I'm very excited to announce that @a16z crypto is leading a $50M round in @veefriends. We look forward to helping the team fuel expansion plans for its creative, technical and experiential operations that support the growing Web3 community! https://t.co/p2KN3SPMGT
— chrislyons (@ChrisLyons) July 28, 2022

VeeFriends plans to utilise the capital to fund the development of its creative, technical and experiential operations. This will sustain its talent pool in the Web3 space.

The CEO and co-founder of Quasar Finance, Valentin Pletnev said, “We’re focusing on blockchain build-up and introducing the vault standard to Cosmos. The first few years of product development is going to be funded by this (raise).”

Some of the popular venture rounds this week comprise:

Sweatcoin, a popular Web2 app. It raised $13 million from investors including the NEAR Foundation and Jump Capital to grow into Web3.
DeFi protocol Aurigami raised a $12 million round from exclusive token sales. And early exchange offerings via KuCoin, Bybit and Impossible Finance.
UK-based provider of corporate client tested credentials, Gatenox, closed a $2.5 million Seed round led by C3 VC Fund.
Space and Time, a decentralised data platform, raised a $10 million seed round led by Framework Ventures.

Source: https://www.thecoinrepublic.com/2022/07/30/even-in-down-crypto-market-venture-funding-is-in-spotlight/