EnigmaFund raises new evergreen Web3 focused fund amidst decline in venture funding
EnigmaFund, a boutique venture capital (VC) and advisory firm in the Web3 space, has raised a new evergreen fund based on an innovative, proven investment approach. They continue to receive interest in the new fund despite the challenging market conditions experienced in the so-called “Crypto Winter”
Lisboa, Lisbon, Portugal, 18th Oct 2023 – EnigmaFund, a venture capital fund founded in 2019 by Enigma, a technology founder, advisor, and investor with over 20 years of experience in decentralized technologies and approaches, as well as AI, and infrastructure, announces its continued commitment to driving innovation and investment in the Web3 space.
From its origins as a smaller personal fund, EnigmaFund has evolved into a significant and highly active player in the crypto venture ecosystem. Since its inception, the firm, has made strategic investments in several notable companies in the top 50 cryptocurrencies by market capitalization (portfolio).
“In 2016, I had already been deeply involved in leading Web2 companies driven by a thesis in decentralization for a decade. When I was introduced to crypto and blockchains, it just made instant sense to everything I believed in,” shares Enigma, underlining their commitment to the Web3 revolution.
EnigmaFund is pleased to announce its forthcoming extension to the main fund, which will open doors for high-net-worth individuals and other funds to access the fund’s exclusive deal flow. This expansion demonstrates EnigmaFund’s commitment to democratizing access to the world of Web3 investments.
The fund has gained a reputation for its multifaceted approach, intertwining both investment and advisory roles. According to EnigmaFund, a remarkable 70% of the fund is allocated to companies they advise, aimed at helping founders achieve parabolic outcomes in various areas while steering clear of costly mistakes.
Enigma explains, “Many founders in Web3 are young and seek guidance from sources with motivations that are not aligned with the project’s best interests, creating adverse effects for everyone involved. Some of the biggest areas of recurring concern are rampant spending on unmeasurable marketing, lack of investment in assets that work hard for them during downtime (storytelling, go-to-market, positioning), poor tokenomic design, modeling, utility, and sustainability, and an inability to assess market makers or exchange listing performance consistently, which often lead to disaster.”
EnigmaFund’s mission is to empower exceptional entrepreneurs as they tackle meaningful and ponderable challenges with a balanced, systematic, and creative approach. Enigma emphasizes the importance of measurable tasks, missions, and approaches for sustainable success in the Web3 landscape.
The remaining 30% of the fund is dedicated to direct investments, secondary deal flow, and the accumulation of vesting OTC (Over The Counter) tokens and digital assets. Enigma explains, “A lot of people have run out of liquidity by overextending themselves in the past two years. EnigmaFund is a source of receiving liquidity in exchange for assets from teams we believe in.”
EnigmaFund has already displayed its active participation in the Web3 ecosystem, making investments and securing advisory roles in a diverse range of layer-1 and layer-2 networks, oracles, Web3 tools, and DeFi projects.
EnigmaFund’s dedication to fostering the growth of Web3 technologies and guiding visionary entrepreneurs makes it a notable force in the venture capital landscape. As it expands its reach, the fund remains committed to supporting innovation and driving meaningful progress in the Web3 space.
Contact Person: Khine Zin
Contact Number: +4402032901955
Address: R. Rodrigo da Fonseca 88
Release Id: 1810237162
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