SOSV spinning off dlab startup program as standalone fund | Technoscoob
Princeton-based enterprise capital agency SOSV introduced the spinout of the dlab startup program, which is concentrated on decentralization and blockchain applied sciences, as a standalone fund, efficient Jan. 1.
That is the primary time SOSV has spun out a startup program as an impartial fund, it stated in a information launch.
The brand new fund can be led by two founding normal companions, Shawn Broderick and Nick Plante, who had been normal accomplice and accomplice at SOSV, respectively. The VC agency would be the anchor restricted accomplice within the fund.
“Shawn and Nick have performed an excellent job in backing pioneering blockchain corporations that may actually matter, and side-stepping the nonsense,” Sean O’Sullivan, SOSV’s managing normal accomplice, stated in a ready assertion. “Blockchain, DeFi and distributed apps have a wealth of purposes the place they supply basic worth and can succeed. I’m pleased with the dlab corporations that may stay within the SOSV portfolio, and I sit up for dlab incomes nice returns for all its restricted companions.”
SOSV investments in dlab corporations made so far will stay a part of SOSV’s portfolio, with Broderick taking care of legacy SOSV investments as a enterprise accomplice. Since 2018, SOSV has invested in 23 dlab startups.
“After greater than 4 years proving out dlab as a part of SOSV, Nick and I are ecstatic to take issues to the subsequent degree as an impartial fund,” Broderick stated in a press release. “The promise of decentralization made doable by way of blockchain applied sciences represents a generational alternative to create a extra clear, open and participatory world.”