Venture Studio will collaborate with companies such as BlockTower Capital and Digital Currency Group to create and finance new protocols. Decent Labs is a Web 3 venture capital firm that launched Fractal last March, which aims to be a framework to support companies in developing their operations as a decentralized autonomous organization (CAD).
Fractal was Decent DAO’s first project, a new project officially announced Wednesday with a investment on the $ 10 million chain with a $ 56 million valuation from big names in cryptocurrency investments.
The fundraising was led by native crypto firms BlockTower Capital and GSR. It saw the participation of Cumberland DRW, Digital Currency Group and 1kx, among others.
For Parker McCurley, co-founder and CEO of Decent Labs, the value of this fundraiser lies above all in the field in which the investment was made, that of cryptocurrencies: ” We didn’t raise traditional venture capital funds from Silicon Valley or New York. We have raised funds that have been launched and raised in the cryptocurrency industry. This is something very important to us “, She said.
A Venture studio is first of all a company capital risk which helps companies build themselves rather than alonepassive investments. And that’s what Decent DAO is, a decentralized shared study for venture capital funds, builders and others, coming together to build protocols.
Decent Labs has been involved for five years in the development of decentralized financial solutions (DeFi) on Ethereum. Decent DAO, which is just a branch of Decent, has the main goal of providing the necessary support for open source decentralized systems that integrate tokenization.
” The good news is that we can stay nimble and flexible and build things as needed. Mr. McCurley said. How does Decent DAO choose which projects receive development capital and resources? ” Basically we will have a six-monthly cohort that will allow us to vote and determine the proposed projects McCurley said.
Projects will be imagined, tested, researched and determined by the members of Decent DAO “. Decent DAO brings together for each of these new projects a core of contributors in different fields, including design, product, development and marketing to get started.
For McCurley, existing Venture-Studios, such as Atomic and Betaworks, have generally developed different a priori approaches, but which can be classified into two main categories:
- Venture Studio’s low-risk, low-reward model;
- the high-risk, high-return Venture Studio model that builds and finances projects; And
- the Accelerator awarding funding equates to a larger pool of founder-led projects;
Decent Labs has experience in the accelerator space and a number of Decent DAO members are venture capital funds. For now, Decent DAO is focused on launching the study side of the organization, but Accelerator and Venture Funds could be launched as sub-DAOs in the future.
In conclusion, it should be remembered that Decent DAO will certainly not be limited to its first Fractal project and that it is foreseeable that it will soon bring other projects into its portfolio, as it should be. in the next rounds of fundraising, because there will certainly be.
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Luc José Adjinacou
Far from dulling my enthusiasm, a failed investment in some cryptocurrencies in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.