Uncorrelated Ventures has raised $315 million for its software and crypto-assets-focused fund, according to Bloomberg.
Saleel Deshpande, CEO of Uncorrelated Ventures, noted that fundraising was not challenging for him. He also shared information about the fund's investment structure.
He stated that 80% of the funds will be directed towards pre-seed and seed financing for projects in the traditional infrastructure software sector. The remaining 20% will be allocated to promising startups in the crypto-assets space.
The company started its operations in the market in 2020, with a primary focus on the Indian market. Previously, Saleel Deshpande, former managing director of Bain Capital Ventures, took on a leadership position at Uncorrelated Ventures.
Uncorrelated Ventures has previously supported projects such as Compound, Cosmos, dYdX, Helium, and Uniswap. The company's assets under management (AUM) amount to approximately $700 million.
In 2023, the volume of venture investments in cryptocurrency projects decreased by 68%. Nevertheless, many experts still claim that major players are showing interest in supporting Web3.
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