Web3 VC Berkwood Capital Raises $30M to Invest in Growth-Stage Startups

Quick take:

• Berkwood Capital has raised $30 million in a round backed by Asian investors.
• The web3-focused venture capital firm said it will invest the capital in growth-stage web3 startups.
• The company’s investment in startups ranges from $300k to $5 million.

Berkwood Capital has completed a $30 million funding round backed by Asian investors. The web3-focused venture capital firm wants to invest in more growth-stage startups in the burgeoning industry.

Since inception, the fund has invested $300k to $5 million worth of capital per project. The company seeks to provide more than growth capital. Berkwood is comprised of experts and leaders who coach and recruit talent to increase the chances of success for its portfolio companies.

Commenting on the fundraising, James Lambert, Berkwood Capital’s Media Manager said: “Berkwood Capital was founded as a Web3-focused firm. We believe that our concentrated strategy— devoting time, energy and capital towards a few new investments— each fund is best aligned for founders and investors.”

The company is doubling down on its investment in web3 and NFT projects after achieving success with its first projects in 2021.

Web3 is generally described as a next-generation internet that leverages emerging technologies like artificial intelligence, blockchain, decentralised apps, and AR/VR to enable the creation of community-driven entities. Non-fungible tokens (NFTs) are digital representations of a music file, JPEG, artwork, or video clip stored on the blockchain.

Berkwood is capitalising on the rapid adoption of web3 and the popularity of NFTs by investing in promising startups that have already demonstrated a significant level of success. The company has already invested in five companies based in Europe and the US.

Kelly Richards, who recently joined the investment team as Principal will help ramp up the company’s projects in North America and Asia.

“The founders and companies we invest in greatly appreciate how hands-on we are in helping them reach their goals. From development to marketing, we have the facilities and experience to bring them to the next level,” said Kelly Richards.

Berkwood’s announcement of the new fundraising comes at a time web3 funding seems to be slowing down amid the crypto downturn. 

According to Crunchbase’s web3 tracker, web3 startups raised $4.3 billion in Q3, 2022, reflecting a significant decline from Q2’s equivalent of $7.9 billion. That’s the first time quarterly web3 funding fell below $7 billion since 2020.

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