HomeUSAInception Capital Closes Debut Web3 Fund of Funds

Inception Capital Closes Debut Web3 Fund of Funds

Inception Capital

Inception Capital (fka OP Crypto), a early-stage Web3 venture capital firm, closed its inaugural Fund of Funds investment vehicle, Inception FoF I, LP, with a total funding of $30m.

The fund was supported by influential investors such as Mirana, FJ Labs, Serafund, and numerous family offices worldwide.

The vehicle is dedicated to investing in emerging managers within the crypto sector. The fund of funds has already invested in five managers such as:

  • Syncracy Capital (Venture Liquid),
  • Escape Velocity (DePIN),
  • Alliance (Accelerator),
  • OrangeDAO (Fellowship), and
  • Everyrealm (Metaverse/Gaming).

Co-investors in these opportunities include Bain Capital Ventures, Parafi, Multicoin, Placeholder, and Marc Andreessen/Chris Dixon.

In addition to the investment activities, Inception FoF I has the capability to make General Partner (GP) commitments and has already secured a GP stake in Syncracy and Escape Velocity.

The Inception FoF I management team members‘ proven track record came from Inception Ventures Fund I. Founded in June 2021, the early-stage venture fund is dedicated to supporting prominent founders across East and the West, with a particular emphasis on consumer infrastructure. The fund raised a total of $50m from institutions including Animoca, Galaxy Vision Hill, Digital Currency Group, Bybit, and Huobi, as well as individual investors such as Bill Ackman, Garry Tan, Sandeep Nailwal, and Alan Howard. Ventures Fund I boasts a portfolio of over 30 disclosed companies, including Scroll, Celestia, Avalanche, and Merit Circle — along with its previous roles at Huobi and in traditional finance (e.g., Morgan Stanley, Merrill Lynch, Wells Fargo, and more).

The firm is led by David Gan, Founder & General Partner.

VCWire

19/01/2024