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Alexis Ohanian, Solana Ventures launch $100M Web 3.0 growth fund

Published 11/09/2021, 11:34 AM
Updated 11/09/2021, 01:20 PM
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Reddit co-founder Alexis Ohanian has teamed up with Solana Ventures to launch a new investment fund dedicated to Web 3.0 and social projects, potentially setting the stage for the next wave of budding crypto startups.

Ohanian announced Tuesday at the Breakpoint Conference in Lisbon, Portugal that his Seven Seven Six venture firm and Solana Ventures have allocated $100 million to Web 3.0 and “decentralized social projects.” In an accompanying news release, the internet entrepreneur touted his venture firm’s expertise in “identifying and investing in early social and crypto trends,” such as Reddit, Patreon and Coinbase (NASDAQ:COIN), among others.

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