Original source: scoop
Newman Capital launches a $50 million investment fund to help traditional businesses enter Web3
Newman Capital is pleased to announce the launch of a $50 million investment fund to help leading legacy businesses consolidate their positions in the growing Web3 space. Newman's mission is to accelerate the adoption of Web3, especially in the traditional business sector, with a focus on the Asian market. This alternative investment fund will serve as a conduit for large conglomerates, guiding them to add value to their existing businesses through technology-based solutions.
Newman Capital Background:
Newman Capital is a leader in the convergence of digital and offline businesses. Its portfolio includes some well-known companies in the technology and blockchain sectors, such as SpaceX, Epic Games, Reddit, Dapper Labs, Loda Finance and others. Newman Capital's business also dabbles in art and collecting, investing in modern and contemporary works including works by Japanese "potential stock" artist Yayoi Kusama and renowned street artist Banksy.
The newly formed $50 million fund will cement Newman's position as Asia's leading alternative venture capital with three key businesses: technology investments, Web3 applications, and art and collectibles. The fund was also established in line with Newman's goal of empowering traditional businesses with Web3-offline converged solutions.
Newman Capital's team firmly believes that the future of the Internet is Web3, which is not only about technology, but also about ideas. While many traditional businesses have always wanted to seize the opportunities in the Web3 space, many of them have not been able to find the right partners to guide them through the process through a deep understanding of the Asian business environment. As an investment firm deeply rooted in Asia, Newman Capital is committed to providing alternative investment guidance to business leaders and decision makers in the region who want to leverage Web3.
Investin, an ecological decentralized asset management agreement for Solana, announced the completion of a $1.2 million financing
On April 8, Investin, an ecological decentralized asset management agreement for Solana, announced the completion of a $1.2 million funding round, led by GSR and 3KVC, with investment from Big Brain Holdings, Norbert Bodziony (Synthetify) and Wojciech Cichocki (Invariant). It is understood that the financing will accelerate the expansion plan of the platform, including the development of new features such as structured products, options, futures and AMM pool liquidity, and expand its user base from the crypto field to a larger market.
Invest's
Investin, Solana's leading decentralized hedge fund management agreement, raised $1.2 million in a GSR and 3KVC-led strategic round. The round also includes Big Brain Holdings, Norbert Bodziony (Synthetify) and Wojciech Cichocki (Invariant).
Project Background:
Investin is a decentralized platform built on Solana that enables any trader to launch their own DeFi hedge fund on-chain and access investors' funds in a trustless, non-custodial manner. Investors are able to access a wide range of assets across a range of products, including spot trading, perpetual futures, token lending, and more.
Since Investin launched on the Solana mainnet, in just four months, it has gained more than 200 on-chain traders and +1,000 investors, resulting in more than $22 million in trading volume on the platform. The agreement aims to incorporate all core trading and derivatives protocols into one product through its flagship, the DeFi Hedge Fund, and allows traders to trade in spot, perpetual, options and non-cryptocurrency markets.
Investin also plans to launch several new products, including loan aggregators, automated market making strategies, and money management strategies, to expand the range of services it offers to potential users.
Chain game developer DEFY Labs completed a $3.5 million seed round, led by Animoca Brands and others
DEFY
On April 8, DEFY Labs, developer of the Move to Earn AR game DEFY, raised a $3.5 million seed round. The round was led by Animoca Brands, OliveX, Spartan Group, and co-invested by Polygon Studios, GameFi Ventures, Bixin Ventures, Unanimous Capital, PathDAO, Play It Forward DAO, and others. Funding will be used to expand teams, game development, and improve the AR capabilities of mobile apps. DEFY requires players to explore the physical environment with the help of augmented reality. The alpha version of the mobile app will be available in mid-April.
About DEFY Labs
DEFY Labs is passionate about building next-generation tools and platforms that enable users to view and interact with NFTs and other digital collectibles in the real world. DEFY Labs' view of the metaverse is to blend the virtual and physical worlds together in a convincing and encouraging way.
Digital fashion company The Fabricant completes a $14 million Series A funding round, led by Greenfield One
On April 8, digital fashion company The Fabricant announced the completion of a $14 million Series A round of funding, led by Greenfield One and with the participation of Sound Ventures, Red DAO, Sfermion, Koji Capital, and Sebastian Borget, CHIEF Operating Officer of The Sandbox. This round of funding will be used to support and expand The Fabricant's plans to build a 'virtual world closet' through its NFT platform, The Fabricant Studio.
The Fabricant has formed a partnership with Epic Games and announced new collaborations with NFT communities World of Women and The Sandbox. In addition, Epic Games recently awarded The Fabricant a huge grant that is open to digital creators for projects using Unreal Engine software.
Meta-universe project The Kingdom completed a $3.6 million financing, with Infinity Ventures Crypto and others participating
Infinity
On April 8, Meta-Universe Project The Kingdom completed a $3.6 million private placement round of funding from Infinity Ventures Crypto, Alameda Research, Shima Capital, Newman Capital, Sweeper DAO, 3 Commas, Chiron Partners, SMG and Liquid Lab Ventures. The financing will be used to continue the development process in the fields of NFT, metaversics, culture and digital art. In addition, the platform plans to release the NFT series in the second quarter of this year
Paradigm's assets under management increased to $13.2 billion, and a16z's assets under management exceeded $54.6 billion
Paradigm
On April 8, SCOOP disclosed that the assets under management of Crypto VC Paradigm have increased to $13.2 billion, an increase of 343% from $2.98 billion in financial reports filed in December 2020. A16z has a total asset under management of over $54.6 billion, an increase of nearly 53% from the previously disclosed $35.8 billion, with cryptocurrency-focused funds under management of approximately $9 billion. In addition, Sequoia Capital has $85.5 billion in assets under management, compared to $80.7 billion previously disclosed. Tiger Global has $124.7 billion in assets under management, an increase of approximately 58% from the $79.1 billion disclosed in 2021.
As with any single financial indicator, there are limitations to looking at the size of the assets managed by these companies. These totals are determined by the valuation of private, illiquid holdings. Value can rise by raising new capital or by allocating assets to limited partners. However, raising more money does not prove good financial performance.