Canonical Crypto, a newly opened venture capital firm, has raised $20 million for its inaugural fund to back infrastructure projects for blockchain development, with a preference for talent making the transition from Web 2 to Web 3.
The fund was backed by a list of crypto heavy-hitters, including Andreessen Horowitz (a16z) partners Marc Andreessen and Chris Dixon.
Other investors included Coinbase Ventures corporate development head Shan Aggarwal, Dragonfly Capital's Haseeb Quresh, FTX Ventures partner Amy Wu and several family offices.
“The thesis is really focused on the world I grew up in, which is developer infrastructure,” Canonical Crypto founder Anand Iyer told CoinDesk in an interview. “I feel like we’re at that phase in crypto right now where we just need better infrastructure. ... We need better airports to support all of the planes that are flying.”
Iyer founded Canonical Crypto late last year after shifting from traditional tech to the crypto space. He previously spent...
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