VC firm Bessemer announces $250 million fund for decentralized tech, launches DAO

DeFi • March 10, 2022, 4:27PM EST
UPDATED: March 10, 2022, 9:05PM EST
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Bessemer Venture Partners, a San Francisco-based venture capital firm, announced on Wednesday a $250 million investment fund for entrepreneurs in the decentralized tech space. 

The fund has a specific focus for individuals working in consumer crypto, or those working to increase widespread adoption of decentralized technology in areas such as gaming, marketplaces or the metaverse, web3 infrastructures like wallet services and smart contracts, and decentralized finance (DeFi). 

Bessemer partners Ethan Kurzweil, Charles Birnbaum, Talia Goldberg and Jeremy Levine are leading the decentralized tech fund, with help from Mike Giampapa, Lindsey Li, Alexandra Sukin, Aditya Nidmarti and Sarah Du.

Along with the $250 million fund for decentralized tech, Bessemer has also launched BessemerDAO, a tool for community engagement and product development among entrepreneurs in the web3 industry. Some of the inaugural members of the DAO include Jay Chang of the Solana-based game Genopets, Josh Fried of Solana and Esteban Castaño of TRM Labs, among others. 

Corrected for clarity on the inaugural members of the DAO.

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MK Manoylov profile picture MK Manoylov

MK Manoylov is a former reporter at The Block.

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