The Redacted Fund is making Web3 investments.
Image Credit: Redacted Group
Web3 data and entertainment startup Redacted has launched a new early stage crypto fund for Web3 startups and gaming companies.
The fund is backed by Saison Capital, Expert Dojo, and Frekaz Group. The fund has already deployed capital into seven initial projects aimed at expanding the Redacted ecosystem, offering founders critical support on go-to-market strategies and tokenomics development.
Announced during Redacted Airways, a Web3 event in the air, the fund seeks to invest and support the next generation of decentralized applications across entertainment, decentralized finance and infrastructure, as part of the Redacted Ecosystem’s growing portfolio of products.
“The Redacted Fund was born out of our viral event with Qatar Airways in September, hosting 300 of Web3’s top venture capital funds, angel investors and influencers such as Aethir founder Mark Rydon, NFT whale Grail, and personalities like Mario Nawfal, the Crypto Banter team, and Andres Meneses,” said Shanjan Kumar, CEO of Redacted. “At the main event on the flight, we invited more than a dozen founders to pitch. These seven companies were shortlisted as a result of highly positive feedback, including participating judges from Animoca Brands, Polygon, and Abu Dhabi Blockchain. After further due diligence, we decided to invest in these startups.”
The fund will offer Redacted’s upcoming token – RDAC, as a catalyst for growth. The seven startups that received investment are Biptap, LegendaryWeb3, Hub.xyz, Numa social, Flip.meme, Ammalgam and iAgentProtocol.
“Biptap is excited to be a part of the Redacted Ecosystem. Biptap has made leaps and bounds on the growth of our platform and in our strategic partnerships, and we are thankful to have already received support and investment from Redacted given their incredible network and their strategic insight on how to succeed in web3,” said Jonathan Low, CEO and founder of Biptap, in a statement.
According to Kumar, founders who work with the Redacted Fund can expect support not just in the form of capital, but also tokenomics. Redacted will allocate a portion of its upcoming RDAC Token to The Redacted Fund’s portfolio companies. The token serves as additional incentives for portfolio companies to catalyse growth, as well as validation of product market fit as they leverage the RDAC Token to refine and iterate their products.
Post-investment, the Redacted Fund will offer portfolio companies in-depth go-to market support, drawing on a bench of seasoned advisors across web2 and web3.
The Redacted Fund advisors include Kevin Henrikson, a seasoned entrepreneur; Saison Capital partner Qin En Looi; Expert Dojo cofounder Brian Mac Mahon and Frekaz Group cofounder Frederic Bonelli, whose funds have invested in more than 500 companies.
“Saison Capital was the first institutional investor in Redacted, and we have seen the team excel in their distribution and go-to market. We are excited to productize this capability and offer it to more web3 founders via The Redacted Fund. Critically, founders now can lean on The Redacted Fund’s proven execution ability and battle-hardened experience to stand out in an increasingly competitive and noisy environment,” said Qin En Looi of Saison Capital, in a statement.
The Redacted Fund is focused on enabling Web3 founders with early seed stage start- ups who already have built products, and are looking for funding, strategic advisory, and go-to-market strategy. Cheque size opportunities may be up to $250,000.
Backed by global Web3 team PG Group, Redacted has secured more than $10 million in funding from prominent investors and web3 founders, including Animoca Brands, Spartan Group, Saison Capital, Polygon Ventures, Dingaling, and Yat Siu.
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