Hack VC Launches $200M Crypto Seed Fund Backed By Sequoia Capital

• The crypto-native fund will invest in early-stage crypto startups as well as participate directly in crypto networks
• More than just a fund, Hack VC will provide startups with access to its own community of blockchain developers as well as its in-house Crypto Lab
• The fund is already investing in innovative crypto, blockchain, and web3 startups, including Yat, Goldfinch, Mysten Labs, Element.fi and SynCity

Hack VC, the crypto-native investment firm with one of the largest blockchain developer communities in the world, announced today its $200M Crypto Seed Fund to invest in crypto, web3, and blockchain startups. The fund is backed by Sequoia Capital, Fidelity, a16z’s Marc Andreessen and Chris Dixon, Accolade Partners, Digital Currency Group, and numerous institutional investors and endowments.

About the Managing Partners

The fund is co-led by Managing Partners Alex Pack and Ed Roman.

Alex Pack was previously a co-founder and Managing Partner of Dragonfly Capital, a multi-billion dollar cryptofund, as well as a co-founder of Imperii Partners, a leading crypto-specialist investment bank. Prior, he helped launch the crypto practice at Bain Capital Ventures.

Ed Roman was previously CEO of 3 startups, has authored a best-selling book on programming, and has invested as a VC for the last 4 years under the Hack VC brand.

Between the two partners, they have made 100+ crypto investments, including early investments in more than 25 unicorns.

About the Fund

The fund is focused on early-stage web3 teams. This includes both protocols and companies that are advancing the next frontier of web3, including DeFi, web3 infrastructure, DAOs and their tooling, NFT infrastructure, and more.

“While we came from venture backgrounds, our goal is not to just build another venture fund,” said Alex Pack. “For the first time ever, crypto breaks down the divide between investors and users. That’s why we aim to be both the earliest investor, first user, and foundational community-member in all the crypto projects we back.”

“We’re a full-stack solution to help web3 startups win in the market,” said Ed Roman. “We begin by helping startups hire the right engineering team via our hackjobs.org community. Once the product is live, we evangelize it by emailing their content marketing to our 130,000 developer community which we created, hacksummit.org. We then become early protocol users ourselves via Hack Labs, an internal tech platform and dedicated team of quant researchers that supports institutional-grade crypto network participation and liquidity provisioning. This is go-to-market rocket fuel for crypto founders.”

The Crypto Seed Fund has already begun deploying capital. To date, the fund has invested in real-world DeFi lending protocol Goldfinch Finance, NFT identity platform Yat, web3 infrastructure provider Mysten Labs, fixed-rate DeFi protocol Element.fi, and blockchain metaverse game SynCity, among others. For startups looking for a crypto-native partner visit Hack.VC to learn more.

“Hack VC was one of our earliest and most ardent supporters. They have high conviction and saw our vision when we basically just had a slide deck. They’ve made absolutely key intros for us, and has a great grasp of the crypto landscape. If you’re raising in web3, you’ve gotta talk to Hack VC,” said Blake West, co-founder of Goldfinch Finance.

“Hack VC has its finger on the pulse of all things crypto,” said Shaun Maguire, Partner at Sequoia Capital, an investor in the fund. “We love co-investing with Hack VC and are proud investors in what they’re building.”