The OP Ventures Fund, a new VC established during summer 2021, has raised $40 million since last year, bringing their total to almost $50 million.
The fund raise was from 140 accredited investors, up from 70 investors last year according to David Gan, Director of OP Crypto.
OP Crypto focuses on early stage startups, including NFT based games, web3 dapps and much else.
They describe themselves as connecting “Asia and the West by investing in founders & asset managers that build game-changing global products and business models in the Web3 ecosystem.”
The team is mostly of Chinese origin or connections, with Gan himself previously being a Senior investment director at Huobi Capital.
Likewise Lucas He, the COO, was an ex-investment associate at Huobi’s internal token fund.
Making this somewhat an offshoot from Huobi, and one of the few VC funds that have 4x-ed their capital during the bear of 2022.
Their portfolio however does not seem to have any known entity, either because they’re a very new VC, or because they do invest at the very earliest stages where there is the highest risk, but also the biggest potential returns.
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- Source: https://www.trustnodes.com/2023/02/14/crypto-fund-raises-40-million
