Swiss-based NEAR Foundation, a non-profit that supports the governance and development of the NEAR protocol, announced on Monday that it has launched a $100M (approximately €98.6M) venture capital fund and venture lab in partnership with Caerus Ventures.
NEAR will anchor the VC fund, with an initial closing of $50M and a target of $100M for seed series A investments.
Caerus Ventures: What you need to know
Founded by IMG executive Nathan Pillai, Caerus is an investment firm created to help, support, and invest in companies at the intersection of culture and Web3.
By operating a Venture Capital Fund and Venture Lab, Caerus plans to be an influential player in this space by deploying capital, technology, and resources to help empower the entertainment industry.