Valkyrie to launch venture capital fund

Issuer Valkyrie is raising funds for an upcoming venture capital fund.

The venture will be focused on early stage “web 2.5” firms.

Valkyrie Ventures is the firm’s first foray into venture capital.

Lluis Pedragosa will head the venture. Pedragosa comes to Valkyrie from VC firm Team8, which focused on enterprise technologies, artificial intelligence and fintech.

The firm will geographically focus on startups in the US and Israel, both areas of expertise for Pedragosa.

According to Pedragosa, filling in the gap between the familiar web 2 user experience and connection to web 3 assets is the path to the next billion users of blockchain.

The fund will look to raise somewhere between $30 million and $50 million.

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