Near Foundation launches a $100 Million Fund Dedicated to Web 3 Developers:
Near Foundation – the Switzerland non-profit organisation behind Near Protocol – reportedly partnered with the VC firm Caerus Ventures to launch a $100M venture capital fund and venture lab.
The main goal will be to support engineers, builders, and developers who work in the Web 3 sector.
Earlier this year, Near Foundation broadened it’s horizon towards Africa, teaming up with the Kenyan blockchain community, Sankore.
In line with the agreement, both parties plan to launch a blockchain unit in Africa that will focus on crypto innovations, education, and talent development throughout the continent.
According to reports, Near Foundation and Caerus Ventures are willing to support the efforts of Web3 developers by introducing a venture capital fund.
The Swiss non-profit will head it, which will have an initial closing of $50 million and a target of $100 million.
According to Near’s CEO, Marieke Flament;
“The creators, talent, and franchises with reach and influence spearheaded that growth and will now drive the adoption of blockchain at scale. But this time, they and their fans will have greater access to the value created,”
In the part of Nathan Pillai – Founder of Caerus Ventures – Web 3 technologies are yet to reveal their real value and change current trends.
He also said he’s been “hugely impressed” by Near Foundation’s approach towards supporting developers and empowering creators and consumers with more control over their assets.
“So we’re creating this partnership to help revolutionize the existing multi-layered entertainment ecosystems, growing the market size while promoting greater equity,” he added.