Uniswap Introduces a Venture Capital Arm for Web3 Endeavors
In a move aimed at advancing the benefits of Web3 and increasing user adoption, Uniswap, the popular decentralised exchange, has announced the launch of a new venture division. The division, Uniswap Labs Ventures, will focus on investing in Web3 projects, with a particular emphasis on infrastructure, developer tools, and consumer-facing applications.
The venture arm will be led by Matteo Leibowitz, alongside Mary-Catherine Lader, Uniswap's chief operating officer. Leibowitz stated that the collaboration between Web3 companies through funding and venture investments reflects the principles and collaboration that are so fundamental to the industry's open-source ethos.
FTX, another leading cryptocurrency exchange, has also recently announced the formation of FTX Ventures to focus on Web3 technology and blockchain.
Uniswap Labs Ventures has already made investments in several startups and projects prior to the venture unit launch. These include Aave, Compound Protocol, MakerDAO, LayerZero, PartyDAO, and Tenderly. The firm has also invested in Optimism and other companies involved in the Ethereum and DeFi ecosystem.
The venture unit will invest in companies across various stages and areas within web3. However, the details on the size of the investment checks and the size of the balance sheet have not been disclosed. The firm will fund both equity and token deals.
In addition to financial support, Uniswap Labs Ventures aims to assist startups in building and scaling across partnerships, strategy, product, engineering, and design. The firm also plans to participate in the governance systems of the Aave, MakerDAO, Compound, and Ethereum Name Service protocols.
The goal of Uniswap Labs Ventures is to support teams that can benefit from Uniswap's experience and expertise as a fast-growing crypto-native company. Leibowitz intends to advance the benefits of Web3 and user adoption through the venture arm.
This development comes as Uniswap continues to make strides in the cryptocurrency space, further cementing its position as a key player in the Web3 ecosystem.
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