Shima Capital, a venture firm focused on early-stage blockchain projects, has raised $200 million in its first venture capital, Web3 fund.
Shima Capital launched its first fund and received substantial support in doing so. It has received 200 million worth of funds from many high-profile crypto investors.
Shima Capital Will Develop With Web3 Fund
The company has identified decentralized identity, social media, autonomous organizations (DAOs), blockchain games, the metaverse, and DeFi as its target areas. On the blockchain infrastructure side, the fund also plans to invest in projects focused on the development of layer 1 and layer 2 technology, as well as security and zero-knowledge proofs.
Shima said the capital will go to recruiting and retaining talent, building communities, marketing and conducting technical research and development.
Investors in the new fund include Dragonfly, hedge fund billionaire Bill Ackman, blockchain game maker and investment firm Animoca, crypto firm OKX, Mirana Ventures, Republic Capital, CoinDesk parent Digital Currency Group, and entrepreneur and former US presidential candidate Andrew Yang.
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