Uniswap Labs Forms Crypto Ventures Wing
Uniswap Labs Ventures is the latest example of crypto companies investing beyond their core business.
The company behind Ethereum-based decentralized exchange Uniswap has launched a venture wing to invest in projects across Web 3, Uniswap Labs said in a blog post Monday.
Strategy lead Matteo Leibowitz will run Uniswap Labs Ventures with Chief Operating Officer Mary-Catherine Lader, Leibowitz said in the post.
Uniswap has previously invested in 11 crypto projects, including Aave, Compound Protocol and MakerDAO. The venture unit’s focus will range “from infrastructure to developer tools and consumer-facing applications,” the blog post said.
Uniswap Lab Ventures continues the trend of crypto companies investing in Web 3 entities other than themselves. In November, stablecoin issuer Circle launched Circle Ventures Fund, and in January the crypto exchange FTX established FTX Ventures with a $2 billion fund.
The blog post did not disclose the amount of capital in Uniswap’s venture fund.
Lader did not immediately respond to a CoinDesk request for comment.
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