- Uncorrelated Ventures is launching a new investment fund.
- It is aimed at software and crypto projects.
- The company has already raised $315 million, bringing its total AUM to $700 million.
Uncorrelated Ventures has raised $315 million for a fund focused on software and crypto assets. This is reported by Bloomberg.
In a comment to the publication, Uncorrelated Ventures CEO Salil Deshpande said that he “had no difficulty raising money.” He also spoke about the fund's investment structure.
According to him, 80% of the funds will be used for pre-seed and seed financing of projects in the traditional infrastructure software sector. The company will allocate another 20% to promising startups in the field of crypto assets.
“This [блокчейн] real technology with real use cases. They may have been overrated in the past. Our task as investors is to give them a realistic assessment,” said the head of the organization.
The company entered the market in 2020 with a focus on the Indian market. Deshpande himself previously served as managing director at Bain Capital Ventures.
Uncorrelated Ventures has previously backed projects such as Compound, Cosmos, dYdX, Helium and Uniswap. The company's assets under management (AUM) are approximately $700 million.
In 2023, the volume of venture investments in cryptocurrency projects fell by 68%. However, many experts still believe that large contractors are interested in supporting Web3.