Coinbase, Sino and Libra To Launch $60m Web3 Fund
Oak Grove Ventures: Revolutionizing web3, AI, and biotech with a $60M fund. Industry veterans lead the way in fostering innovation and supporting projects.
Oak Grove Ventures, with a robust $60 million fund, is set to revolutionize the intersections of web3, artificial intelligence (AI), and biotech.
A report on September 19 revealed that Oak Grove's team boasts several industry veterans. This includes Sally Wang, who previously worked at Sino Global Capital, a VC firm with a keen interest in blockchain. Other notable members are Ethan Wang, who once held a significant tech role at the Libra project supported by Facebook, Shawn Shi, a founding member of the cryptocurrency payment platform Alchemy Pay, and Michael Li, who served as a vice president at Coinbase.
"We understand that the journey of building groundbreaking technologies is not just about capital; it's about fostering a community of visionaries, pioneers, and founders who share our passion for innovation. With this fund, our strategy is simple yet profound: to raise funds for the founders."
Before its transformation into a venture capital firm, Oak Grove Ventures functioned as a family office, overseeing investments for an affluent family. Their investment prowess is evident, having supported over 30 groundbreaking projects, including Elon Musk's renowned ventures, SpaceX and Neuralink.
A new $60 million fund has been set up, showing that investors are still putting money into crypto startups, even though the cryptocurrency market has been unpredictable and bearish.