NGC Ventures has closed its third blockchain fund at $100 million. NGC Metaverse Ventures’ backers include Babel Finance, Altonomy, Huobi Ventures, Nexo Ventures and GBIC.
25 May 2022 — NGC Ventures (“NGC”), a global crypto-focused venture capital fund, announces the closing of its third blockchain fund, NGC Metaverse Ventures with committed capital of $100 million from notable industry investors that include Babel Finance, Altonomy, Huobi Ventures, Nexo Ventures and GBIC.
Roger Lim, NGC Venture’s General Partner said, “Despite the systematic market slowdown globally, we continue to see the emergence of high-potential projects that are set to shape the next era of Web 3.0. Our role is to identify such projects and work extensively with these talented teams to ensure they have all the necessary capabilities to turn their ideas into reality. The Metaverse Ventures Fund allows us to be at the heart of it all — as we collaborate with the brightest minds to create a thriving digital realm with endless possibilities.”
The funding comes after the success of NGC Ventures’ previous funds, which made strategic early investments in many of today’s top-tier projects including Solana, Oasis, NYM, Babel Finance, Republic, Banxa and Algorand. In tune with the growth momentum of the Metaverse, this new fund will focus on backing early-stage Web 3.0 projects extending from the Metaverse and its infrastructure to DeFi, GameFi and NFTs. With NGC’s expertise in the crypto-field, new entrants and startups will be better placed to deliver high impact solutions to the market, leaping past the ideation phase towards tangible innovations.
Del Wang, co-founder and CEO of Babel Finance said, “A fund tailored to the metaverse like NGC’s could not come at a more pivotal moment as the space sees accelerated growth and new players are in need of a robust support system to scale their core services. We are proud to be part of this drive as NGC doubles down in its efforts to enable the next-gen Web 3.0 ecosystem.”
NGC will offer these projects access to a variety of resources, including tokenomics advisory, influencer profiles, social platforms, launchpads, legal firms, market makers, exchanges, and ecosystems. It will also connect founders to NGC’s extensive global investor network, built around its presence in Singapore, San Francisco, New York, London and Shanghai.
To date, NGC Metaverse Venture has made early investments in Everyrealm, VR Jam, and EthSign, with more planned in its future pipeline as it adds fuel to the growth and development of Web 3.0.
*Note: Funds managed by NGC Ventures and its subsidiaries are only available to accredited investors. The foregoing is for informational purposes only and is not an offer to purchase or sell any security, and should not be used as the basis for any investment decision. Investing in crypto assets is highly speculative and the market is largely unregulated.
About NGC Ventures
NGC Ventures is a global crypto-focused venture capital fund and has been a key investor and contributor to projects in all stages of development from seed to public sales, for both equity rounds and token raises. With a global team spanning Asia, the Americas, and Europe, NGC works closely with founders to solve their problems with tokenomics, go-to-market strategies, and distribution channels. Both our funds I and II have invested in over 70 projects, mostly in blockchain infrastructure and adoption technologies in areas such as De-Fi, Gaming and Decentralized Computing.