Grayscale Ventures has made the first closure at $10 million of its $20 million micro-fund. The fund targets AI, vertical SaaS and DevInfra-based (development infrastructure) startups.
Over the course of four years, the micro-fund will invest between $200K and $1 million in 15-20 pre-seed startups. It will be completed by the third quarter (Q3) of 2023. Grayscale Ventures has limited partners (LPs) from Japan, Southeast Asia, the United States, and India. These LPs include Slack, Zendesk, Hasura, GlobalWay, Nexus, STRIVE, Apollo Munich, and UOB, among others. The fund will seek about 10% ownership in the startups in which it invests, preferring to lead or co-lead fundraising rounds with other specialised funds.