HomeUSARW3 Ventures Raises Fund for Early-Stage Blockchain and Web3 Investments

RW3 Ventures Raises Fund for Early-Stage Blockchain and Web3 Investments

RW3 Ventures

RW3 Ventures, a Boston, MA-based early-stage venture capital firm focused on the blockchain industry, closed its RW3 Ventures Fund I LP, with $60m in capital commitments.

The fund received significant support from The Raptor Group, as well as Mubadala Capital, the wholly-owned asset management subsidiary of Mubadala Investment Company, a global sovereign investor headquartered in Abu Dhabi, UAE.

Launched in 2021 in partnership with The Raptor Group, the family office of Jim Pallotta, RW3 Ventures supports early-stage companies building blockchain infrastructure and decentralized applications and protocols. The firm takes a collaborative, hands-on approach to help founders in Web3 grow and scale their platforms. In addition to deploying capital, RW3 Ventures helps startups hire talent, build communities, and enhance their technical research and development capabilities.

The RW3 team is led by:

  • Pete Najarian, Founder and Managing Partner. Najarian previously served as the Chief Revenue Officer of BitGo from 2019 to 2021, where he helped lead the company through its most dramatic period of growth. Prior to that, Najarian served as a Senior Vice President- Institutions at Xapo, which was acquired by Coinbase in 2019. He also brings considerable traditional markets experience having served as global co-head of the emerging markets businesses for two of the world’s largest financial institutions.
  • Joe Bruzzesi, Partner. Bruzzesi previously served as a Managing Director at BitGo from 2020 to 2022, where he oversaw the Americas division and led over $10 billion in transactions involving some of the largest crypto protocols, companies, and funds. Bruzzesi is also one of the earliest advisors to Avalanche.

The Fund targets opportunities from pre-seed through Series A focusing on teams that seek to utilize blockchain technology to disrupt real-world industries and business models with sizeable addressable markets. To date, the vehicle has made several investments across blockchain protocols, decentralized infrastructure, fully homomorphic encryption, and gaming.

Commenting on the launch, Jim Pallotta said: “Pete and Joe’s disciplined, methodical, and institutional approach to the digital asset markets is based on their years of experience helping companies scale in growth markets and manage risk through volatility. Blockchain companies have the potential to be among the most valuable enterprises in the future, and we believe the best investment opportunities will present themselves over the next 36 months. I believe the RW3 team is exceptionally well-positioned to identify the most promising companies of tomorrow and help them grow.

VCWire

15/02/2024