Former-Sino Global, Coinbase, and Libra Team Launch $60M Web3 Fund

Simar Marwaha
Simar Marwaha Published on September 19, 2023 09:21 PM

Former members of Sino Global, Coinbase, and Libra have launched a $60 million Web3 fund. This initiative aims to support and invest in Web3 projects and innovations.

Former-Sino Global, Coinbase, and Libra Team Launch $60M Web3 Fund
Source: Pexels

A group of industry veterans from the crypto and fintech sectors has come together to establish a new fund named Oak Grove Ventures, with a substantial $60 million investment focus.

Based in Singapore, Oak Grove Ventures aims to explore and invest in innovative projects situated at the crossroads of Web3, artificial intelligence, and biotechnology. The team behind Oak Grove Ventures boasts several prominent individuals, bringing a wealth of experience to the table.

Among them is Sally Wang, formerly associated with Sino Global Capital, which has now evolved into Ryze Labs. Ethan Wang, who served as the tech lead for Libra, is also a key figure within the team.

Ex Sino Global, Coinbase, and Libra Team Members Launch $60 Million Web3 Fund

Shawn Shi, known for co-founding Alchemy Pay, adds further expertise to the group. Additionally, Michael Li, a former Vice President at Coinbase, lends his extensive knowledge to the fund's operations. This diverse and accomplished team intends to identify promising opportunities and support projects that harness the potential of Web3, artificial intelligence, and biotechnology, with a significant focus on driving innovation in these converging domains.

Oak Grove Ventures is poised to play a pivotal role in advancing groundbreaking developments at the intersection of these cutting-edge technologies, with its $60 million fund poised for strategic investments and growth.

“We understand that the journey of building groundbreaking technologies is not just about capital; it's about fostering a community of visionaries, pioneers, and founders who share our passion for innovation. With this fund, our strategy is simple yet profound: to raise funds for the founders,” Sally Wang, the fund’s head of investments, said in a statement.

According to a press release, Oak Grove Ventures brings with it a well-established history of successful early-stage investments, with a portfolio that spans over 30 projects. Among its disclosed investments are eight funds and 14 high-calibre projects, including notable names like SpaceX and Neuralink.

This track record underscores Oak Grove Ventures' ability to identify and support promising ventures in emerging and high-impact sectors. By nurturing a diverse range of innovative initiatives, the fund has demonstrated its commitment to driving progress in cutting-edge fields.

The inclusion of SpaceX and Neuralink in its portfolio further highlights Oak Grove Ventures' involvement in groundbreaking ventures that push the boundaries of technology and innovation. These companies are recognized worldwide for their pioneering work in space exploration and neurotechnology, respectively.

With its extensive experience and strategic investments, Oak Grove Ventures is well-positioned to continue fostering innovation and driving growth in the ever-evolving landscape of Web3, artificial intelligence, and biotechnology.


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