Ripple, the San Francisco-based blockchain company, has emerged as a key participant in a new $40 million fund dedicated to the advancement of web3 infrastructure. The fund, announced by early-stage venture firm Dispersion Capital, aims to support the development of robust and mature infrastructure beyond protocols and networks, empowering developers to create groundbreaking applications harnessing the true power of blockchain.
Dispersion Capital, led by seasoned VC Patrick Chang, has already invested in 20 companies, with the majority receiving follow-on financing since Dispersion’s initial investment. Chang, who previously spearheaded Samsung Next’s blockchain investments, bringing a web2 focus to web3 startups like Dapper, Flow, and Alchemy, is well-versed in the world of web3 and has established credentials in the space.
The $40 million fund has gained support from both web2 and web3 pioneers, including Faction, Lightspeed, Wemade, Circle Ventures, Alchemy Ventures, Hashkey, Cherubic Ventures, Forte, NGC, as well as individual GPs at top venture firms and infrastructure executives. This collective backing highlights the recognition of the importance and potential of web3 infrastructure in shaping the future of decentralized technologies.
In a statement, Patrick Chang expressed his belief in the immense potential of talented web3 developers and their ability to build next-generation applications. However, he noted that their progress is often hindered by the immaturity of the existing infrastructure. Dispersion Capital aims to bridge this gap by supporting the creation of robust platforms and tools that will empower developers to unleash the true transformative power of blockchain technology.
Chang drew a parallel between the transformative moment captured by AI through models like ChatGPT and the potential he sees in blockchain. By investing in and scaling the next generation of web3 infrastructure, Dispersion Capital aims to revolutionize the decentralized landscape and enable developers to unleash their creativity and innovation.
Industry insiders have recognized Chang’s pivotal role in establishing Samsung Next as a prominent investor in web3 and blockchain. Brendon Kim, MD and Head of Investments at Samsung Next, praised Chang’s tenacity and conviction, which guided them to make early-stage investments in trailblazing projects like Dapper Labs, Flow, Alchemy, and Forte. Kim emphasized Chang’s unique ability to spot the most ambitious founders and projects before others, highlighting his potential to scale the next generation of web3 infrastructure.
Dispersion Capital defines itself as an early-stage venture firm focused on decentralized infrastructure. Their mission is to pioneer a world characterized by multiple chains, currencies, and platforms. They invest in foundational technologies for decentralized businesses, with a particular emphasis on tools that enable developers to bring this vision to life. Their focus spans various layers of web3, including fintech and gaming infrastructure, security, data, and platforms that challenge legacy industries.
With Ripple joining the ranks of supporters for Dispersion Capital’s fund, the web3 infrastructure ecosystem gains a prominent player with expertise in blockchain and a commitment to driving innovation. As the fund deploys its resources and cultivates groundbreaking projects, the future of web3 infrastructure appears brighter than ever, with the potential to revolutionize industries and reshape the decentralized landscape.
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