The appointment of Jouanneau brings Laser’s venture team size to a total of seven members, said Olivier Dang, the company’s general partner and head of ventures. Launched last fall, Laser Digital currently has about 65 employees and also runs asset management and trading services.
Laser’s ambition to expand its venture business comes with VC investments in web3 on the decline. Web3 venture funding dropped in the first quarter of this year,The Block Pro data also show that VC investment in web3 totaled $2.8 billion in the first quarter of this year, representing a sharp decline from $13.5 billion in the first quarter of last year.
Jouanneau said now is the “perfect time” to invest as “we are seeing a lot of valuations being dragged down by effectively the lack of capital to be deployed” — a common bear market narrative among crypto VCs.
Source: News Formal (newsformal.com)
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