DAO Hydra Raises $10 mn
A decentralised investment fund called Hydra Ventures announced that it has raised $10 million to invest in more investment-focused decentralised autonomous organisations.
Onekx, ConsenSys, Collab+Currency, Wicklow Capital, and Seed Club were a few of the companies that participated in the investment round for Web3.
In order to pool investment for other investment DAOs seeking to raise money on behalf of their communities, Hydra Ventures describes itself as a “fund of funds.” According to the statistics website DeepDAO, there are more than 40 such DAOs.
“Hydra Ventures DAO operates on the thesis that the investment DAO space will continue to grow, and ecosystem participants are better positioned to assess investments than a typical investment fund that is centrally owned and run by a few select partners,” the firm said.
(With inputs from Shikha Singh)
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