Why Web3 funds are springing up like mushrooms
With valuations falling and the appetite of some major groups, funds linked to the crypto universe are on a roll.
150 million euros! At the end of September, France's Trail launched a Web3 fund to invest in crypto start-ups linked to luxury, culture and sport. It's a fairly unprecedented move in the sector. And yet the initiative, backed by Stake Capital, hasn't caused much of a stir.
If the launch has been so discreet, it's because Trail is not the first player to jump into the Web3 deep end. In recent months, several other French funds have emerged. "
Ledger has teamed up with Cathay to create a €100 million fund. XAnge has also created its structure with a pocket of €80 million. Smaller entities such as Atka are also very active. And other funds are in the pipeline. "It's the best time to invest in Web3," explains Marguerite de Tavernost, who is steering the Cathay-Ledger fund on Ledger's side.