New Zealand VC Launches $5 Million Web3 and Crypto-Focused Fund – Finance Bitcoin News

New Zealand-based venture capital firm Global From Day 1 recently said it had launched a $5 million Web3 and crypto-focused venture capital fund to back local startups. The fund will invest in pre-seed to Series A companies across decentralized finance , decentralized autonomous organizations , non-fungible tokens , and Web3.In a boost for New Zealand-based startups and local investors, GD1 has launched a $5 million Web3 and crypto-focused venture capital fund.

According to the statement, the fund’s first close is set for June and there are expectations it will be oversubscribed with early commitment from international Limited Partners. The statement, meanwhile, clarified that the GD1 Crypto Fund 1 is separate from GD1 Fund 3.For his part, Ahmed spoke of how of local startups appeared to only seek funding from offshore sources. He said:

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