Cryptocurrencies

Bill Ackman, Animoca Brands Back Web3 Global Venture Fund

$50 million fund to focus on cross-border projects with Asia
Additional backers include co-founders of Solana and Polygon

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By David Pan

March 7, 2022 at 7:38 PM UTC

This article is for subscribers only.

Billionaire Bill Ackman is among the early backers of a web3 venture fund focused on supporting the metaverse, gaming, social media and decentralized finance.

Closing on $50 million in funding announced Monday, OP Ventures Fund I counted the hedge fund manager among its supporters which also included Solana co-founder Raj Gokal, Terra founder Do Kwon, Polygon co-founder Sandeep Nailwal, billionaire financier Alan Howard and Asian gaming giant Animoca Brands Corp.