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You are at:Home » Dispersion Capital Unleashes $40M for the Future of Web3 Infrastructure
Investment & Funding

Dispersion Capital Unleashes $40M for the Future of Web3 Infrastructure

The fund will focus on supporting builders in addressing infrastructure gaps to drive the mass adoption of web3.
Ravi KumarBy Ravi KumarMay 24, 2023Updated:May 24, 2023No Comments3 Mins Read
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Dispersion Capital Unleashes $40M for the Future of Web3 Infrastructure
Patrick Chang, Dispersion Capital’s managing partner and founder.
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Venture firm Dispersion Capital has unveiled a $40 million fund to back web3 infrastructure development. Led by experienced VC Patrick Chang, the fund aims to empower developers and address infrastructure gaps for the mass adoption of web3 technologies.

Early-stage venture firm Dispersion Capital has launched a new $40 million fund to support ‘foundational web3 infrastructure’. The firm has already invested in 20 companies, many of which have received follow-on financing since Dispersion’s initial investment.

The fund is led by Patrick Chang, a seasoned venture capitalist with web3 expertise and over 20 years of experience in the field. Prior to founding Dispersion Capital, Chang led blockchain investments at Samsung Next, making defining investments in web3 startups like Dapper, Flow, and Alchemy.

Dispersion Capital aims to advance cutting-edge infrastructure needed for a multichain, multi-currency, and multi-platform world. The fund focuses on developer-forward companies that drive foundational infrastructure for web3.

The initiative has gained support from notable players in both web2 and web3, including Faction Lightspeed, Wemade, Circle Ventures, Ripple, Alchemy Ventures, Hashkey, Cherubic Ventures, Forte, NGC, and individual general partners (GPs) at top venture firms and infrastructure executives.

Patrick Chang expressed his dedication to enabling the creation of groundbreaking applications by providing robust and mature infrastructure beyond protocols and networks. He emphasized the importance of empowering developers with platforms and developer tools to unleash the true power of applications in the blockchain space.

Dispersion Capital aims to bring a transformative moment to blockchain similar to how AI captivated the imagination with innovations like ChatGPT.

Industry leaders have praised Chang’s expertise and track record in the web3 and blockchain space. Partners from Samsung Next and Alchemy Ventures highlighted his ability to identify ambitious founders early on, while Ripple and Circle Ventures commended his forward-thinking approach and alignment with their visions.

Other companies, such as ZettaBlock, credited Chang’s deep understanding of the web3 industry and his dedication to their success as instrumental factors in their growth.

Dispersion Capital’s fund will focus on supporting builders in addressing infrastructure gaps to drive the mass adoption of web3.

The announcement arrives just as the web3 startup ecosystem finds itself amidst turbulent tides. Venture capital funding, the lifeblood of these innovative projects, has experienced an unexpected downturn, reaching its lowest point in two years. The global VC funding for the web3 industry plummeted to a mere $2.4 billion in the first quarter of 2023, marking an alarming 80% decline from the astronomical heights of $12.3 billion witnessed during the corresponding period in the previous year, as per a report by PitchBook.

Read Also: tomi Raises $40M to Build A DAO-governed Alternative Internet

Dispersion Capital Venture Capital Venture Capital Firm Web 3.0 Web3 Fund
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Ravi Kumar
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Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

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