Dubai-Based Illuminati Capital Raises $50 Million for Web3 and Gaming Investments
The new Dubai-based crypto venture fund Illuminati Capital has raised $50 million for a fund that aims to invest in early-stage blockchain and Web3 gaming startups.
According to a report from VentureBeat, the hope with the new VC fund is to bring the founders’ experience from the blockchain and investment worlds to the evolving landscape for Web3 investments.
In a post on social media platform X, Illuminati Capital explained its approach to investing, saying it prefers to partner with companies and offer hands-on help with scaling their projects.
“We work within Layer-1, Infrastructure, AI, DeFi, Gaming and Metaverse projects. All to build the tomorrow of Web3,” the VC firm added.
“We are witnessing a remarkable growth trajectory in Web3 venture investing. With a track record of 120-plus successful blockchain investments in my investment portfolio, I will bring my expertise in data, infrastructure, regulation and mining,” Vickaash Agrawal, a partner at Illuminati Capital, was quoted as saying in a statement.
Meanwhile, Laura K. Inamedinova, another partner at the firm and CEO of crypto marketing agency LKI Consulting, focused on the firm’s approach to building long-term partnerships with companies they invest in.
“By leveraging our trusted network and industry know-how, we commit to building a solid foundation for long-term success,” she said.
Also known as GameFi, Web3 gaming is a growing niche within the crypto world that attracted significant investments in the previous crypto bull cycle with massively popular projects such as Axie Infinity (AXS) and The Sandbox (SAND).
Read more on cryptonews.com
