According to Foresight News, European venture capital firm XAnge has ceased fundraising efforts for its inaugural crypto venture fund despite signs of recovery in the Web3 market. In 2022, XAnge announced plans to raise €80 million for its Digital Ownership Fund, a fund dedicated exclusively to cryptocurrency investments. The firm had recruited Luc Jodet, co-founder of Paris-based Web3 luxury platform Arianee, to spearhead the initiative. However, due to insufficient support to complete the initial fundraising round, CEO Cyril Bertrand has confirmed that the company will no longer pursue fundraising for this specific crypto fund.