Polygon founder raises $50M for WEB3 venture fund! There is good news from Sandeep Nailwal, the Founder of Polygon, and Kenzi Wang, the Co-Founder of Cere Network.
On August 25th, Symbolic Capital, a venture capital firm founded by Sandeep Nailwal and Kenzi Wang, informed the community that they raised $50M for early-stage WEB3 companies.
Symbolic Capital mentioned its focus on the official website. Symbolic adopts a hands-on approach to investing by offering advisory, recruiting, and more. Symbolic will invest in Metaverse, interoperability, NFT Consumerization, and three others.
Symbolic Capital tweeted, “What is unique about us? We are one of the first VC firms led exclusively by web3 founders, allowing us to provide unparalleled support to the builders in our portfolio.”
Since meeting in Binance Labs in 2019, the two founders, Nailwal and Wang, have invested in over 40 companies, such as Axie Infinity, Yield Guild Games, Biconomy, and many other projects.
Sandeep Nailwal said, “When you look at the crypto VC landscape, it is rare to find firms that were started by web3 founders. We built blockchain companies from the ground up and are intimately familiar with the unique challenges that]these projects face.”
Symbolic Capital has invested in some projects, including three blockchain gaming startups, Planet Mojo, Blinkmoon, and Community Gaming. However, Symbolic does not disclose the initial funding received by these startups.
Since the news dropped, the community has been waiting to see what Symbolic will bring to the industry. Some startups even replied to the announcement saying they wanted to send proposals to the team.