SOSV spins out Web3 startup program dlab as standalone fund

SOSV Founding General Partners Shawn Broderick and Nick Plante will lead the new fund.

  • SOSV will serve as the fund’s anchor investor
  • In 2019, SOSV launched the dlab startup development program, which offers capital and mentorship to carefully selected founders
  • Based in New York City, SOSV has $1.5 billion in assets under management

SOSV has spun out dlab, a Web3 startup program, as a standalone fund. No financial terms were disclosed.

SOSV Founding General Partners Shawn Broderick and Nick Plante will lead the new fund. SOSV will serve as the fund’s anchor investor.

“Shawn and Nick have done a great job in backing pioneering blockchain companies that will really matter and side-stepping the nonsense,” said SOSV Managing General Partner Sean O’Sullivan, in a statement. “Blockchain, DeFi, and distributed apps have a wealth of applications where they provide fundamental value and will succeed. I’m proud of the dlab companies that will remain in the SOSV portfolio, and I look forward to dlab earning great returns for all its limited partners.”

In 2019, SOSV launched the dlab startup development program, which offers capital and mentorship to carefully selected founders. Over the past four years, SOSV has invested in 23 dlab startups, including API3, a builder of first-party oracles to bring data on-chain via trustless apps; and Contango, creator of a decentralized exchange for expirables without order books or liquidity pools

Based in New York City, SOSV has $1.5 billion in assets under management.