Decentralized investment fund Hydra Ventures has announced that it has raised $10 million to invest in other investment-focused decentralized autonomous organizations (DAOs). Prominent Web3 investors joined the funding round, including 1kx, ConsenSys, Collab+Currency, Wicklow Capital, and Seed Club.
Hydra Ventures is a “fund of funds” that aims to pool investment for other investment DAOs looking to raise capital on behalf of their communities. According to the data site DeepDAO, over 40 such DAOs are operating. A DAO is a blockchain-based organization governed by holders of its native crypto token, who vote on matters related to the organization’s running.
Hydra Ventures’ investment thesis is that the investment DAO space will continue to grow and that ecosystem participants are better positioned to assess investments than a typical investment fund centrally owned and run by a few select partners. By enabling investment DAOs to raise capital more efficiently, Hydra Ventures is helping to create a more decentralized investment ecosystem.
The funding round clearly indicates significant interest in decentralized finance and investment, with investors looking to get involved in the rapidly growing acquisition DAO space. Hydra Ventures is well-positioned to capitalize on this trend, and its unique approach to investing in investment DAOs could prove to be highly lucrative in the years to come.
