In a context of setbacks for the crypto industry, companies in the value chain are struggling to raise capital. In a report released last month, digital industry content and data provider The Block Research said that at the end of the second quarter, venture capital funding for blockchain companies fell 22% from the first quarter. It thus went from 12.5 billion US dollars to 9.8 billion US dollars. This is 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 approximately €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 web3, through quality support.
On a global scale, the latter are bearing the brunt of the crisis on the crypto market and are finding it increasingly difficult to raise capital. Only Europe is resisting this trend. Contrary to other regions, fundraising for companies in the sector rose there by 25% during the last quarter.
The Aglaé Ventures fund will notably target centralized and decentralized startups, investments in web3 infrastructures, specialists in layer 1 and 2 scalability, etc., the sources assure.
The venture capitalist was a major financier in web2. She has also supported behemoths like Airbnb, Netflix, Slack and Spotify. His first foray into the crypto industry was via a $30 million USD funding round for crypto maker, Flowdesk.
By embarking on this new adventure, Aglaé Ventures is certainly seeking to meet new challenges, to establish itself in web3 as it did in web2, but above all to be at the forefront of tomorrow’s technology.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Tremplin.io!