LongHash Ventures Fund II is a pre-seed stage to Series A-stage startup that builds multi-chain web3 infrastructure. LongHash plans to raise the $100 million capital by 2022.
LongHash Ventures is one of the most renowned venture funds for Asian web3 startups and announced Wednesday a $100 million new fund.
According to a press release, LongHash Ventures Fund II was financed by Protocol Labs and Gnosis Safe, NGC Ventures and Protocol Labs. LongHash plans to raise $100 million for its second fund, but CEO Emma Cui stated that the company has not raised the total amount.
LongHash Ventures Fund II is a funding source for web3 projects, from pre-seed stage to Series A stage. It focuses on web3 projects that build multi-chain infrastructure, decentralized finance, non-fungible tokens and blockchain-based gaming.
This is LongHash Ventures’ second fund. The first fund was launched at $15 million in 2021. LongHashX is also an accelerator program that was launched by the firm in 2018. It partners with prominent web3 firms like Protocol Labs to offer mentorship and financial support for web3 startups.
Cui stated that the second fund will allow them to support more founders through subsequent rounds. The second fund will allow us to support more founders through subsequent rounds .”
LongHash Ventures was a financier of Polkadot and Coinshift in the past.