Uniswap Labs has launched a new venture unit to invest in Web3 projects, including creating blockchain infrastructure, developer tools, and consumer-centered apps.
The fund’s head, Matteo Leibowitz, says that the firm will make the investments directly from its balance sheet but does not disclose the size.
The executive, who will run the fund with Uniswap Labs COO MC Lader, says that the fund will focus on equity and token deals.
Leibowitz says that the company is searching for projects making progress in Web3 and its adoption. He adds that the firm aims to enable startups to scale in strategy, products, and partnerships.
The company has funded more than ten startups before the launch of the venture unit. The notable projects are Compound Protocol, LayerZero, and Tenderly.
Uniswap Labs venture unit will reportedly launch more crypto funds related to corporate clients and protocol launch, including FTX Ventures and Cake DeFi ventures.
Source: Uniswap Labs Ventures