Web3 Developer Platform Alchemy Is Raising $12M for New Venture Capital Fund

It’s unclear what the funds will be used for, as Alchemy has a history of making investments through its venture capital arm and a separate grants program.

AccessTimeIconSep 13, 2022 at 8:59 p.m. UTC

Cameron Thompson is a news reporter at CoinDesk.

Brandy covers crypto-related venture capital deals for CoinDesk.

Web3 developer platform Alchemy is raising $12 million for a venture capital fund, according to a filing with the U.S. Securities and Exchange Commission.

The Alchemy SPV III fund has yet to start raising the capital. The form, filed on Sept. 9, didn’t specify the purpose of the fund. Alchemy co-founder and CTO Joseph Lau is listed as the fund’s executive officer.

Alchemy has a history of making Web3 investments through its venture capital arm and a separate grants program. Last December, the firm created a VC arm to invest capital into large crypto companies such as OpenSea and Dapper Labs. And in June, the firm raised $25 million to create a grant program to bootstrap startups and developers building in the decentralized finance (DeFi) or non-fungible token (NFT) space.

Alchemy declined to respond to CoinDesk’s request for comment.

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Cameron Thompson is a news reporter at CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Cameron Thompson is a news reporter at CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

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