fbpx

AsiaTechDaily – Asia's Leading Tech and Startup Media Platform

  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Menu
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Submit Article
Featured3 May 2022 5:34

GD1 launches New Zealand’s first crypto/web3 VC fund

by Team AsiaTechDaily
Bookmark (0)

Please login to bookmark

No account yet? Register

Global From Day 1 (GD1) has announced New Zealand’s first dedicated web3/Crypto focused venture capital fund.

The US$5 million fund, ‘GD1 Crypto Fund 1’, will be led in-house by renowned cryptocurrency and web3 expert Nawaz Ahmed as General Partner.

Focused on investing in the next generation of web3/Crypto entrepreneurs and projects around the world, the fund has already warehoused two deals that will see GD1 invest in companies that count VC giants Andreessen Horowitz, True Ventures and Kleiner Perkins as investors.

‍First close has been set for June and is expected to be over-subscribed, with early commitment from international Limited Partners whose prior investments include Coinbase, Reddit, Patreon, Yat, Anchor, and Artblocks.

GD1 Crypto Fund 1 is separate from GD1 Fund 3, which saw a successful first close at $130M and anticipates an oversubscribed final close in August.

“One of our goals at GD1 has always been to diversify into new focus areas and continuously expand our knowledge base by onboarding individuals with diverse and interesting experiences and so we’re thrilled to have Nawaz join the GD1 team to help lead our web3/Crypto strategy. Nawaz’s work gives GD1 an important vehicle to test our preliminary thesis around the concept of permissionless innovation that web3 is built on, and we’re excited to start laying the foundations of our investment strategy in this area,” explains Vignesh Kumar, Co-Managing Partner at GD1.

Currently within New Zealand, web3 and Crypto startups are largely backed by offshore investment. At the moment, local VC firms offer investors very little in the way of global web3/Crypto investment options and the deep relationship benefits that come with co-investing with some of the world’s largest players.

“In the past, the very best NZ companies in this space have easily been able to raise funds globally and haven’t needed to rely on local investment. This is a missed opportunity for NZ-based funds and one we’d like to be the first to explore,” says Nawaz.

The fund will be investing in pre-seed to series A companies across decentralised finance (DeFi), decentralised autonomous organisations (DAOs), NFTs, web3 and Crypto infrastructure, as well as tangential sectors.

Tags:

Similar Articles

Startup Policy4 Dec 2023 7:13

Navigating Singapore’s Startup Ecosystem: Top 5 Funding Initiatives Unveiled

More
Sabrina Peng, Chief Sustainability Officer of Ant Group, speaking about Alipay Ant Forest at COP28 in Dubai, UAE
Featured1 Dec 2023 4:28

Leveraging digital platform to amplify green participation by the public: An Ant Group case study presented at COP28

More
Blockchain30 Nov 2023 7:55

Term Structure Raises $4.25M in Seed Funding to Introduce Fixed-Income Products to DeFi

More

Weekly popular posts

Venture Capital30 Nov 2022
Australian startup FrankieOne gets another $15.5m for fraud detection
more
FinTech30 Nov 2022
Funding Societies hits THB1bn mark in loan disbursements to Thai SMEs
more
FinTech29 Nov 2021
Grab leads latest funding round in Indonesia’s Bareksa
more
Events5 Dec 2019
ComeUp 2019 Comes To An End After A Successful 3-Day Event
more
Events4 Dec 2019
UNDP’s Global Innovation Initiative for Sustainable Agriculture
more

Topics

Menu
  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

Program

Menu
  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

About

Menu
  • Home
  • Advertisement
  • Contact Us
  • Privacy Policy

Subscribe and be informed first hand about the actual economic news.

All the day’s headlines and highlights, direct to you every morning.

© 2023 asiatechdaily. All rights reserved.

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback