Lemniscap, a venture capital firm, has raised funds for a new $70 million fund aimed at supporting early-stage Web3 startups. The fund will focus on various blockchain-based businesses, including zero-knowledge infrastructure, consumer applications, emerging Bitcoin ecosystems, security, and decentralized physical infrastructure (DePIN). Accolade Partners, a fund of funds targeting early-stage ventures in the blockchain industry, is also backing this new fund. Lemniscap, known for investing in early-stage crypto startups, has a history of supporting popular protocols like Avalanche, Fairblock, and others. The firm emphasizes long-term success over short-term gains, providing both capital and strategic guidance to startups in their portfolio. Despite challenges in the crypto industry in recent years, Pitchbook reports a resurgence in the Web3 startup ecosystem, with significant investments in infrastructure projects like Monad and BeraChain. Read more AI-generated news on: https://app.chaingpt.org/news