Popular decentralized cryptocurrency exchange (DEX) Uniswap has announced that it has established Uniswap Labs Ventures (ULV). ULV will be a venture capital fund focused on investing in Web3 projects and companies. There is still no official word on how much capital Uniswap holds in its venture fund.
According to the announcement earlier in the week, the company will invest in various projects or technologies related to Web3, developer tools, infrastructure and consumer applications regardless of their development stage. Matteo Leibowitz, head of the firm's initiatives, said the investments will be made directly from Uniswap Labs' balance sheet.
Before launching its new venture arm, Uniswap Labs has invested in 11 startups and projects, including MakerDAO, Aave, Compound Protocol, PartyDAO, LayerZero, and Ethereum developer platform Tenderly. Making a statement about the investments made, Uniswap made the following statements:
“We are looking for projects that will enhance the benefits and user adoption of Web3. In any case, we strive to support teams that can leverage our experience and expertise as a rapidly growing cryptocurrency company.”
Uniswap Labs Ventures also stated that it aims to help startups build and scale across strategy, product, partnerships, engineering and design. In this context, Uniswap Labs Ventures plans to participate in the governance systems of MakerDAO, Aave, Compound and Ethereum Name Service protocols.
Also, Uniswap Labs' venture unit is starting to take an interest in them as more crypto funds tied to institutional assets and protocols come to market, including FTX Ventures and Cake DeFi Ventures.
Commenting on these initiatives, the Uniswap executive said that the growth of Web3 companies that support each other through venture investments reflects the principles of collaboration that are fundamental to the industry's open source values.
“The Uniswap ecosystem has benefited greatly from third-party contributions. We are excited to push this forward by sharing our experience and expertise with our peers.”