TechFlow news — Fabric Ventures, a Web3 venture capital firm headquartered in Luxembourg and London, has announced the successful close of a $140 million venture fund, double its initial target. Additionally, its newly launched Web3 Growth Fund, Fabric Growth, has secured $100 million in funding. The growth fund will support entrepreneurs in the Web3 space, aiding their business expansion and development with individual investments ranging from $100,000 to $10 million.
The $140 million venture fund includes investors such as Apeiron, Andre Schurrle, Dragan Solak (entrepreneur, founder and advisory board chairman of United Group), Polkadot, Zerion, Eventbrite, the founder of Matrix Partners China, European Investment Fund, Atomico, Galaxy Digital, DCG, as well as the founders of Ethereum, Wise, and MySQL.
Investors in the Web3 Growth Fund include co-founders of Raisin, general partners from Open Ocean, Felix Capital and Claret Capital, and US fund-of-fund Blockchain, a co-investor. The growth fund previously backed DeFi and Web3 applications including Argent, NEAR Protocol, and Immutable.
