Dora Ventures Celebrates First Closing of its Appchain Thesis Fund
[PRESS RELEASE – San Francisco, United States, November 8th, 2023]
Dora Ventures is announcing the first closing of its Appchain Thesis Fund – Dora Ventures[2]. This fund dedicates its capital towards cutting-edge Appchains and related infrastructures with a primary-secondary hybrid mandate. It also emphasizes support for its portfolio on decentralization, governance and global open source developer community engagement.
Dora Ventures[2] is also the first Dora Venture fund that includes external Limited Partners (LPs), who offer strategic alliances and are committed to the long-term development of appchain innovations.
Zooming In: Focus on Appchain Infras and Appchain Ecosystems
Dora Ventures’ dedication to the Appchain sector is two-fold:
Appchain Infrastructure (Appchain Infras): Recognizing the foundational importance of robust and scalable infrastructure for Appchains, Dora Ventures[2] places a strong emphasis on investments in this area. Strong infrastructural backbones pave the way for limitless innovation.
The Appchain Ecosystem: Beyond infrastructure, Dora Ventures actively engage with and invest in the broader Appchain ecosystem, identifying the game-changers and industry-shapers of tomorrow.
Steve Ngok, Partner of DoraHacks and Managing Director of Dora Ventures, commented, “Appchains are not just inevitable; they’re unfolding at an unprecedented pace. The launch of Dydx, the soaring success stories of Injective and Akash, and the highly anticipated Makerchain and Fraxchain are testaments to this. Our vision is to be at the epicentre of this acceleration.”
Eric Zhang, Founder of DoraHacks, emphasized the importance of a holistic approach, stating, “While Appchains are transformative, their potential can only be fully realized with a solid infrastructure. This is why our hybrid mandate, focusing on Appchain infrastructure, is so crucial. This particular Dora Venture fund’s portfolio, which includes core assets like CosmosHub and Osmosis, echoes this commitment.”
Looking Forward:
As Dora Ventures bask in this moment of achievement, its also brimming with anticipation for the future. Dora Ventures looks forward to rigorously deploying capital into more exciting Appchain opportunities in the upcoming years, further solidifying its position at the forefront of Appchain innovation.
About DoraHacks:
DoraHacks is a global hackathon organizer and one of the world’s most active multi-chain Web3 developer platforms. It creates a global hacker movement and provides crypto native toolkits to help developers around the world team up and fund their ideas and BUIDLs via hackathons, bounties, grants, grant DAOs, and public good staking. By far, more than 4000 projects from the DoraHacks community have received over $40 million in grants and other forms of contributions from supporters worldwide. A large number of open source communities, DAOs, and more than 100 major blockchain ecosystems are actively using Dora’s infrastructure (DoraHacks.io) for open source funding and community governance.
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