Crypto asset manager Valkyrie is set to raise $30 million for its venture capital arm, reported TechCrunch.
Valkyrie has reportedly hired Lluis Pedragosa to lead the new Valkyrie Ventures with his investment experience of over 10 years.
Valkyrie’s new arm to further web3 investment
Pedragosa explained that the vertical will be supporting companies providing a “web2 user experience” with “web3 infrastructure”, adding, “The idea for us is we want to invest in what we call the middleware layer, which is kind of like the infrastructure layer — anything that is between an application and the layer one protocols and in what we call web 2.5,”
He also specified that Valkyrie’s funding arm won’t be investing Valkyrie’s balance sheet capital but use the external investment from institutions and high net worth individuals (HNIs) to raise the set $25-$30 million in funding.
According to Pedragosa, the fund is strategic for Valkyrie because it focuses on emerging infrastructure that the company...
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