TL;DR
- Hack VC secures $150 million to back crypto and AI startups, bringing its assets to $425 million.
- Despite the bear market, Hack VC maintains its conviction in Web3, focusing on decentralization and DeFi.
- In addition to funding, the company offers comprehensive support to founders, consolidating its position as a leader in technology venture investing.
Hack VC, a New York-based venture capital firm, recently announced the closing of its first venture capital fund raising $150 million.
This investment comes at an opportune time, in the midst of a bear market, as a natural extension of its initial $200 million seed fund.
With this, Hack VC has managed to raise a total of $350 million in commitments across its first two funds, bringing its assets under management to around $425 million.
The primary focus of this fund is investing in early-stage startups operating in the fields of cryptography and artificial intelligence (AI), two areas that Hack VC views as crucial to the future of technology.
The firm is particularly interested in projects that focus on Internet decentralization, infrastructure for decentralized finance (DeFi), and the intersection between cryptography and AI.
Despite the challenges presented by the bear market, Hack VC maintains a strong belief in the long-term potential of web3 technology
They have been investing in this space since 2014 and have backed over a hundred companies, some of which have become unicorns.
The firm also highlights its continued commitment to the developer community and its support of founders from the early stages of their projects.
Hack VC co-founder Alex Pack emphasizes that this new fund represents an important step in his long-term commitment to web3.
Despite market fluctuations and challenges facing the crypto ecosystem, the company is determined to support innovators who are building the critical infrastructure needed to bring web3 to the masses.
In addition to providing funding, the firm offers support through its comprehensive platform, which includes hack.labs(), hack.summit(), and a network of mentors and experts in the field.
The firm actively seeks projects that address key challenges in web3, such as security, scalability and usability.
The successful closing of this fund demonstrates the growing interest and confidence in the potential of web3 technology and AI.
Hack VC positions itself as a key player in the venture investment space, committed to backing the visionaries who are shaping the future of technology.
