Hack VC Secures 150 Million Dollars Fund for Investment in Crypto and AI Startups

Crypto News– Web3 venture capital firm Hack VC has successfully raised $150 million dedicated to investing in early-stage crypto and artificial intelligence (AI) startups.

Hack VC Secures 150 Million Dollars Fund for Investment in Crypto and AI Startups

In a statement released on February 20, the New York-based VC firm outlined its focus on decentralized finance (DeFi), real-world asset (RWA) tokenization, and blockchain infrastructure solutions as the primary sectors for its crypto-focused investments. Moving forward, Hack VC aims to prioritize projects that enhance the user-friendliness and capital efficiency of crypto, as well as those that address smart contract and protocol vulnerabilities reminiscent of early internet viruses in the 1990s.

According to Hack, “Web3 requires a fundamental shift in infrastructure across scalability, security, and usability before it can achieve mainstream adoption.”

The firm expressed confidence in the emergence of Web3 giants, stating, “The next Google, Microsoft, Amazon, and Alibaba for Web3 is already here or will launch soon.”

Additionally, Hack VC revealed its intention to make significant investments in the “Web3 x AI” space, building on its previous funding of projects like Jasper AI, an enterprise-focused generative AI copilot, and Ritual, an AI coprocessor for blockchains.

Hack VC expressed a steadfast commitment to the crypto sector despite enduring a prolonged bear market, during which the total crypto market shrunk from $3 trillion to $828 billion between 2021 and 2023, as per CoinGecko data.

In February 2022, Hack had raised a $200 million seed fund with the objective of supporting early-stage crypto startups.

Moving forward, Hack stated that its forthcoming investments will vary in size, ranging from hundreds of thousands of dollars for smaller projects led by solo founders to several million dollars for larger projects in which the firm holds strong conviction.