Exploring a Web3 Venture Fund
According to reports, Evan Cheng, co-founder and CEO of Mysten Labs, confirmed on The Scoop Podcast that he was exploring a web3 venture fund. Evan Cheng said …
According to reports, Evan Cheng, co-founder and CEO of Mysten Labs, confirmed on The Scoop Podcast that he was exploring a web3 venture fund. Evan Cheng said that there are many web3 funds, but investors are looking for things that are not limited to specific ecosystems and are very consistent with LPs, and also get the support of people who really understand web3 technology and products fundamentally. In addition, Evan Cheng also said that the fund would not only invest in Sui Ecology.
CEO of Mysten Labs: The upcoming Web3 fund will not be limited to investing in Sui Ecology
Interpret the above information:
Evan Cheng, the co-founder and CEO of Mysten Labs, has confirmed in a recent podcast that he is exploring the possibility of creating a web3 venture fund. While there are already many web3 funds available, Cheng has pointed out that investors are looking for something that is not limited to specific ecosystems and that is consistent with limited partners (LPs). He has also emphasized the importance of having support from individuals who truly understand web3 technology and products, in order to make successful investments.
Cheng has a solid reputation in the tech industry and has previously held positions at Apple, Google and Facebook. His current venture, Mysten Labs, aims to develop new technologies that are focused on solving some of the most complex challenges present in the blockchain and cryptocurrency industry.
The discussion focused around the proposed web3 venture fund, however, Cheng clarified that the fund would not be limited to investing in Sui Ecology. This highlights his intention to pursue a broad range of investments, suggesting that the fund will be looking to support a wider scope of initiatives and technological advancements.
It is clear that Cheng is interested in developing a venture fund that will provide opportunities for LPs to invest in projects with a strong understanding of the web3 technology and products involved. This philosophy is in line with Mysten Labs’ mission and will be key to attracting investments and creating a successful fund.
In the fast-paced world of blockchain technology and cryptocurrency, the future is always uncertain. However, Evan Cheng’s decision to explore a web3 venture fund suggests that he sees significant potential in the space for innovative projects, and that he is confident in his understanding of the landscape. It will be interesting to see how the proposed venture fund develops and what investments it will ultimately make.
In conclusion, Evan Cheng’s exploration of a web3 venture fund could be a significant development for the blockchain and cryptocurrency industry. By providing LPs with an opportunity to invest in blockchain technologies, the fund can help to drive innovation in the field and enable the creation of new products and services. Cheng’s insightful understanding of the web3 ecosystem could be a valuable asset in the creation of the fund.
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