TechFlow News — According to TechCrunch, Orange DAO, a decentralized venture capital organization founded by former Y Combinator participants, has raised $80 million in funding. The capital primarily comes from its strategic investors Algorand and NEAR, with additional contributions from DAO members serving as limited partners in the fund, along with several institutional investors. Since January, the organization's membership has grown from 1,000 to 1,300, and it has supported 90 startups, including Web3 private equity platform Liquifi, decentralized credit platform Goldfinch, and crypto payment tool Spritz. In March this year, Orange DAO selected NEAR as its preferred Layer 1 blockchain, and the NEAR Foundation invested $15 million in Orange DAO.
Orange DAO was established in September 2021 with the goal of building a venture capital organization that supports startups in the crypto space. Initially composed of just a few YC alumni, it now counts over a thousand YC alumni among its members. Orange DAO helps startups apply for YC funding and provides financial support both before and after their YC funding rounds (pre-YC and post-YC funding). Additionally, it assists founders in gaining admission into YC and offers guidance on internal management, hiring, customer acquisition, and more.
