https://techcrunch.com/2022/07/26/new-york-city-interplay-blockchain-crypto-web3-vc-venture-capital-fund/

We’ve seen a number of new web3-focused venture fund launches in the past month from large traditional VCs including Lightspeed and smaller, crypto-native firms such as Valkyrie alike. Although crypto startups have had a tougher time attracting capital, venture firms seem to be raking in money from investors, perhaps preparing themselves to scoop up stakes in startups for relatively cheap prices if market conditions worsen.

Now, New York City-based Interplay, which says it provides services to 15% of venture-backed companies in the U.S., is launching its own dedicated blockchain fund that will invest in early-stage startups, tokens, special situations and other strategies within web3. The firm is targeting a $10 million raise and is currently in conversations with investors, founder and managing partner Mark Peter Davis told TechCrunch in an exclusive interview.