TechFlow reports that early-stage venture firm Microtraction has announced the first close of its second fund, Microtraction Community Limited, raising $15 million. Notable general partners (GPs) in the new fund include Micky Malka from Ribbit Capital, David Haber from a16z, Michael Seibel from Y Combinator, and Alexis Ohanian from 776. The fund will focus on sectors such as fintech, SaaS, crypto, and gaming, with individual investments expected to range between $100,000 and $350,000.
The announcement also stated that Microtraction will launch a community organization—similar to a DAO—to enter the Web3 space, utilizing social tokens to incentivize members, the fund itself, and startup founders. This organization will operate on an invitation-only basis and offer exclusive benefits such as access to private events, investment opportunities, and in-depth industry analysis services.Original link
