Animoca Brands co-founded ApeCoin Ventures to create a $10 million fund with ApeCoin

Odaily News Animoca Brands co-founder Yat Siu initiated a proposal related to "ApeCoin Ventures". The proposal shows that Animoca Ventures, the early venture capital arm of Animoca Brands, proposed to establish ApeCoin Ventures to combine Animoca Ventures' historical expertise with the strong influence of the community to expand the visibility and scale of ApeCoin's adoption and utility. In a 1:1 matching structure, the proposal suggests deploying $5 million worth of APE from ApeCoin DAO and matching it with Animoca Ventures' $5 million in fiat funds to create a $10 million combined fund. By jointly investing in early Web3 companies, the two parties will promote and encourage the comprehensive utility and adoption of ApeCoin. Its investment strategy targets companies in the seed and Series A financing stages, giving priority to companies that can integrate ApeCoin into their ecosystems.