Singapore-based crypto-focused VC fund NGC Ventures has closed its third blockchain fund with committed capital of US$100 million.
NGC Metaverse Ventures’s backers include notable industry investors, such as Babel Finance, Altonomy, Huobi Ventures, Nexo Ventures and GBIC.
The fund will back early-stage Web3 projects extending from the metaverse and its infrastructure to DeFi, GameFi and NFTs.
NGC Metaverse Venture has made early investments in Everyrealm, VR Jam, and EthSign.
Also Read: NGC Ventures launches US$20M fund, invests in decentralised exchange Dexlab
Roger Lim, NGC Venture’s General Partner, said: “Despite the systematic market slowdown globally, we continue to see the emergence of high-potential projects that are set to shape the next era of Web3. Our role is to identify such projects and work extensively with these talented teams to ensure they have all the necessary capabilities to turn their ideas into reality. The Metaverse Ventures Fund allows us to be at the heart of it all as we collaborate with the brightest minds to create a thriving digital realm with endless possibilities.”
The funding comes after the success of NGC Ventures’s previous funds, which made early strategic investments in projects such as Solana, Oasis, NYM, Babel Finance, Republic, Banxa and Algorand.
NGC will offer these projects access to various resources, including tokenomics advisory, influencer profiles, social platforms, launchpads, legal firms, market makers, exchanges, and ecosystems. It will also connect founders to NGC’s global investor network, built around its presence in Singapore, San Francisco, New York, London and Shanghai.
With a global team spanning Asia, the Americas, and Europe, NGC works closely with founders to solve their problems with tokenomics, go-to-market strategies, and distribution channels.
In May 2021, NGC Ventures, in partnership with Solana Foundation (a web-scale blockchain), announced the launch of a US$20 million strategic investment fund.
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