U.Today - , the San Francisco-based blockchain company, is one of the key participants in a newly announced $40 million fund by Dispersion Capital, dedicated to the burgeoning field of web3 infrastructure.
Dispersion Capital, an early-stage venture firm, to invest in decentralization, a fundamental aspect of the web3 concept. To date, Dispersion Capital has funded 20 companies, each receiving follow-on financing post-investment.
Patrick Chang, founder and managing partner of Dispersion Capital, has a strong background in the web3 sphere, stemming from his time leading Samsung (KS:005930) Next’s blockchain investments.
His expertise was acknowledged by Circle Ventures, another participant in the fund, who highlighted Chang's ability to identify promising and ambitious talent in the web3 space.
Dispersion Capital is positioning itself to be a catalyst in the development of functional, scalable, and accessible decentralized applications. However, the reality of the web3 infrastructure's maturity and the successful deployment of next-gen applications remains an open question.
Circle Ventures, in a recent statement, applauded Dispersion Capital's efforts and expressed eagerness to see the firm’s impact on the web3 ecosystem. It emphasized Dispersion's focus on addressing infrastructure gaps and their support for developers.
The new fund has also received backing from Faction, Lightspeed (TSX:LSPD), Wemade, Alchemy Ventures, Hashkey, Forte, and others.