Our investment team is crypto-native at its core. Our journey into launching a crypto fund was not a coincidence or a sudden decision. Besides, for the first time, a new cohort of founders are building upon an infrastructure that is finally ready for wider adoption. Uncommitted investors and founders have left, the signal/noise ratio has improved, valuations are reasonable again, and expectations are in check. Why now? Two years into a crypto winter, while all eyes have turned to AI, Web3 is a contrarian bet once again. They often showcase higher capital efficiency and virality than traditional startups. Web3 protocols are now evolving into robust businesses generating meaningful revenues and accruing significant value. Why a dedicated Web3 fund? We believe that the shift towards protocols is an extension of the software revolution of the past three decades and foresee protocols progressively disrupting parts of the economy, like previous internet startups. We are thrilled to have completed an initial closing of €15M. Heartcore Capital Web3 I is a crypto-native fund dedicated to protocols and their native tokens, with a focus on the application layer. Sharing some BIG news! □□ Today, Heartcore Capital is excited to announce the first close of our new dedicated Web3 fund.
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