In a context of setbacks for the crypto industry, companies in the value chain are struggling to raise capital. In a report published last month, the provider of content and data on the digital industry, The Block Research, indicated that at the end of the second quarter, the financing of blockchain companies by venture capital fell by 22% compared to the first quarter. It has thus increased from US$12.5 billion to US$9.8 billion. This is also the first time since 2020 that the Blockchain field has experienced such a setback. Faced with this observation, Aglaé Ventures wants to offer an alternative : a fund of about € 100 million for web3.
After web2, a new challenge for Aglaé in web3?
Several anonymous sources close to Aglaé Ventures, the venture capital firm backed by French billionaire Bernard Arnault, told The Block that the company is preparing to launch a fund worth between 100 and 110 million euros. The objective of the fund is to stimulate the development of crypto start-ups and the web3, through quality support.
On a global scale, the latter are experiencing the full force of the crisis on the crypto market and are finding it increasingly difficult to raise capital. Only Europe is resisting this trend. Unlike the other regions, the mobilizations of funds for companies in the sector increased by 25% in the last quarter.
Aglaé Ventures’ fund will target, in particular, centralized and decentralized startups, investments in web3 infrastructures, specialists in the scalability of Layers 1 and 2, etc., the sources assure.
The venture capitalist was an important financier in the web2. She has also supported behemoths like Airbnb, Netflix, Slack and Spotify. His first foray into the crypto industry was via a US$30 million round in favor of the crypto manufacturer, Flowdesk.
By embarking on this new adventure, Aglaé Ventures is certainly looking to take up new challenges, to impose itself in web3 as it did in web2, but above all to be at the forefront of tomorrow’s technology.
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Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.