Venture capital firm Antler has announced an initiative to back founders and developer teams that are building the nascent decentralised internet known as Web3.
The VC firm, which is currently working with founders and early-stage companies across 17 cities worldwide, is looking for Web3 startups to join its global cohorts.
Antler plans to invest in potential Web3 founders and connect them to a network of advisors, protocols, and experienced Web3 investors.
It is based on peer-to-peer technologies such as blockchain and the term was coined by the co-founder of the cryptocurrency co-founder Gavin Wood in 2014.
Web3 protocols are designed to create interfaces, tools and services using blockchain’s decentralised technology. This removes the need for any third party or intermediary, such as Facebook, that is currently necessary with Web2.
Proponents of Web3 view it as the next phase of the internet that can improve data security privacy and scalability. Critics fear it could make it make the internet less safe, while others see it as the latest tech buzzword promoted by cryptocurrency enthusiasts.
Antlert’s initiative is being led by Antler partner Nitin Sharma. Additionally, Markus Bruderer, who has led multiple Antler blockchain investments in the South East, and previous crypto-infra startup founder Cathy Guo are leading the project.
Antler has already created a portfolio of 14 blockchain technology companies, including Art Wall Street, Alpha Impact, Xanpool, Hodlnaut, among others.
“This is a revolution we can help catalyse as the only early-stage investor with such a vast global footprint,” said Nitin Sharma comments. “That’s why with this global call, we are launching a coordinated effort across 17 locations, to enable new founders to ‘level up to Web3’ with us.
“In one go and from day one, founders we work with will have access to the entire breadth of our network, plus specialised protocol relationships and advisors, to reach users, developers and investors in 5 continents.”