Double Down launches a $30 million Web3 fund, supported by a16z partners and others

2022-11-02 21:11:54

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ChainCatcher news, Miami-based company Double Down has announced the launch of a fund focused on consumer-facing startups in the Web3 space, totaling approximately $30 million. The fund has already made 9 investments in Web3 consumer startups, including Miami-based NFT toy company OnChain Studios and Web3 media company Tally Labs.

Double Down was founded by former Bain Capital investor Magdalena Kala, who stated that part of the reason for successfully raising the fund is its deep investment experience in the consumer sector. "I firmly believe that the future of Web3 lies with consumers, and what is currently lacking are good narratives and marketing strategies, as well as conveying value to customers outside the crypto circle."

It is reported that several industry insiders, including a16z partners Chris Dixon and Marc Andreessen, Paradigm founder Matt Huang, Coinbase founder Fred Ehrsam, and Alexis Ohanian's venture capital firm Seven Seven Six, are supporting Double Down. (source link)

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