Near Foundation and Caerus Ventures Launch $100 Million Web3 Fund

Near Foundation and Caerus Ventures have announced a new $100 million venture capital fund dedicated to financing Web3 projects.

Near Foundation is a Swiss non-profit organization that oversees the development of the dApp platform, Near Protocol. Caerus Ventures is a notable capital investment company. Together, they will be supporting developers and engineers working in Web3 – the internet built on blockchain tech.

The fund is led by Near Foundation. Initially, there is $50 million in it, but this amount is announced to be increased to $100 million.

When it comes to Near Foundation’s recent collaborations, back in May, it joined forces with Sankore, a blockchain community in Kenya. This partnership is aimed at creating a regional crypto hub, for supporting crypto innovations and educating the locals about crypto.