DWF Labs, a leadingglobal marketmaker and investment firm, has been heavily investing in the Web3 ecosystem in recent months in a focused drive to "disrupt traditional industries," according to Andrei Grachev, DWF Labs' Managing Partner. "We are positive about infrastructure projects that simplify the onboarding process from Web2 to Web3, as they play a crucial role in bridging the gap and facilitating widespread adoption."
2023 has been a somewhat slow year for Web3. There are fewer investments because of the liquidity crunch, and VCs have a lower appetite for risk because of rising interest rates.
While there have been encouraging signs in the past few weeks, it is undeniable that the spate of investment in Web3 products has reduced from its 2021 peaks. This slowdown in investments has also contributed to the liquidity crunch in crypto as well.
The funding came from DWF Labs, its eighth investment of $10 million or more in the last six weeks.
Alchemy Pay, a payments provider based in Singapore, has received $10 million in investment from market maker DWF Labs at a $400 million valuation as it eyes expanding its business in South Korea.
DWF Labs Managing Partner Andrei Grachev discussed the firm’s investment strategy and continuing risks for the industry.
Investment in crypto companies, which poured in at a record pace during the 2021 bull market, slowed to a near stop as the bear market began and headline-grabbing scandals rocked the industry.
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- So-Col raised $4.5 million in two rounds. Investors include DWF Labs and Blockchain Capital.
- Both rounds were token rounds, So-Col founder Irene Zhao told The Block.
The funding round was led by market maker and investment firm DWF Labs and gives the firm a valuation of $400 million.
Blockchain firm Radix Tokens has raised $10 million in fresh funding ahead of the introduction of its Babylon mainnet, which will allow smart contract capability on the Radix network for the first time.
Tomi's aim is to "kick off a clean slate for the internet," using its DAO governance model to promote freedom of speech and access to uncensored information
Decentralized autonomous organization (DAO) tomi, which is aiming to build an alternative internet network, has raised $40 million led by digital asset market maker DWF Labs.
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Andrei Grachev’s DWF Labs has emerged as one of the most prominent backers of startups in the Web3 space. Bear market conditions hampering crypto over the past year have done nothing to dampen its belief in the promise of a decentralized web. So, while other VCs have exercised more prudence in their investment strategies, DWF seems to have thrown caution to the wind, growing its portfolio to more than 50 Web3 projects over the last year.
DWF Labs purchased $15 million worth of Synthetix's native token SNX on March 16 with a further purchase of $5 million to follow
Market maker and investment firm DWF Labs is making a $20 million investment in on-chain liquidity and derivatives trading protocol Synthetix.