Hack VC, a renowned venture capital firm with a history of crypto investments dating back to 2014, has successfully closed its first fund at $150 million. This achievement comes as an extension to the $200 million seed round raised earlier, bringing the total commitments from the two rounds to around $350 million.

Web3 and Gaming

The firm has already made strategic investments in key areas, primarily focusing on early-stage web3 infrastructure and gaming. Hack VC has demonstrated a keen interest in protocols, next-gen DeFi, web3 gaming, and real-world asset tokenization. The firm proudly boasts a substantial $425 million in total assets under management.

“We had the distinct privilege of being 'institutional investors' in web3 across at least three bull-to-bear-market cycles, as long as perhaps anybody,” wrote Hack VC, showcasing its extensive experience in navigating the dynamic crypto market.

Core Mission

The company's core mission revolves around supporting visionary individuals at the earliest stages of their projects. With a full-stack platform designed to assist founders in reaching the market and achieving mainstream success, Hack VC has cultivated a team of experts, including engineers, quant traders, and researchers.

To ensure the success of its investments, Hack VC employs a rigorous testing process for the products and protocols it supports. Workshops and summits are organized for incubated projects, and the firm has established a partner network that collaborates closely with selected projects.

Hack VC is strategically investing in the convergence of web3, gaming, and artificial intelligence. The company stated in a press release: “We are investing both in blockchain infrastructure that can support generative AI applications, as well as generative AI infrastructure that can power new types of decentralized experiences.” Notable investments include Jasper AI, a generative AI copilot for enterprises, and Ritual, an AI coprocessor for blockchains.

Despite the ups and downs experienced by the industry over the past two years, Hack VC sees its new fund as a demonstration of unwavering faith in web3 technology. “With our new fund, we are planting a flag as unwavering long-term believers in web3, and committing to funding even more of the core blockchain technology that we have been investing in for so long,” the company affirmed.