Red Beard Ventures Raises $25M from Animoca Brands, Superrare, a16z General Partners

Web3 venture capital firm Red Beard Ventures (RBV) has raised $25 million from key industry players, including a16z general partners Marc Andreessen and Chris Dixon, Animoca Brands, and SuperRare, among others, per a Coindesk report.

The funds will support Denarii Labs, a tokenomics accelerator program jointly created by RBV and Horizen Labs Ventures, launching on May 18. Participating startups launching token projects can expect mentorship, launch support, guidance, and weekly educational sessions via the program.

Currently accepting applications for its first cohort, Denarii Labs is set to begin in Q3 this year, with each company receiving $100,000 to build their project. 

Red Beard Ventures was launched in 2019 by founder and managing partner Drew Austin. The VC firm is a syndicate of startup aggregator AngelList, focusing on investments in web3 infrastructure, NFTs, AR/VR, fintech, and other areas shaping the future of the internet. 

It has invested in more than 100 companies, deploying over $40m in capital. The syndicate also has a network of more than 3,000 strategic Limited Partners putting in $10,000 or more per year across one or more investment opportunities. RBV’s portfolio companies include generative AI protocol Alethea AI, crypto aggregator CryptsoSlam, The Sandbox, Dapper Labs, Limewire, and more. 

Apart from its syndicate, the VC firm has also launched the RBV Fund I, which invests in pre-seed to Series A web3 startups with strong tokenomics and utility design across DeFi, gaming, metaverse, IP, infrastructure, and consumer verticals. The fund distributes an average check size of $500,000 to founders. On the other hand, those interested in investing in RBV Fund I would have to pour in a minimum amount of $250,000.

Additionally, RBV’s ecosystem comprises a community-gated NFT project, a DAO, and a forthcoming NFT rolling fund.

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