According to Foresight News, Alpha Protocol Ventures, led by founder and CEO Vagelis Diamantis, has launched a $20 million Web3 fund. The fund will primarily focus on the gaming and collectibles sectors, with investments also being made in DeFi, Layer 1, and Layer 2 networks.

Investors in the fund include former Ethernity CFO Diamantis, Ethernity CEO Nick Rose, Web3 investment firm Morningstar Ventures, and several Web3 angel investors. Diamantis stated that APV has already identified potential investment targets and will increase support for 'undervalued projects,' including Polygon, Polkastarter, Axie Infinity, and Ethernity.