Red Beard Ventures Successfully Obtains $25 Million from Key Players like Animoca Brands and a16z Partners
In Brief
Founded in 2019 by the enterprising Drew Austin, Red Beard Ventures has been making significant waves in the investment landscape.
This venture capital firm acts as a collaborative network under the startup aggregation platform AngelList.
Red Beard Ventures boasts a diverse portfolio featuring innovative companies such as Alethea AI, CryptoSlam, and The Sandbox, amongst others.
In a notable development, the Web3 venture capital firm Red Beard Ventures (RBV) has captured $25 million in investments from high-profile entities, which also include Marc Andreessen and Chris Dixon from a16z, as well as contributions from Animoca Brands and SuperRare, according to sources. Coindesk report .
The newly acquired funds will be channeled into Denarii Labs, an accelerator program focusing on tokenomics that RBV has developed in partnership with Horizen Labs Ventures, aimed for launch on May 18. Startups with token projects can anticipate receiving mentorship, launch assistance, guidance, and participating in weekly educational workshops throughout the program.
Currently open for applications for its inaugural cohort, Denarii Labs is slated to commence in the third quarter of this year, offering each participant $100,000 to help realize their project.
Founded in 2019 by Drew Austin, the managing partner, Red Beard Ventures is a venture capital firm that operates under the startup aggregator AngelList. It emphasizes investments in areas like Web3 infrastructure, NFTs, AR/VR, fintech, and other emerging sectors that are defining the next stage of the internet.
With investments in over 100 companies, the firm has allocated upwards of $40 million in funding. Moreover, it has a robust network of more than 3,000 strategic Limited Partners, each contributing at least $10,000 per year across various investment opportunities. RBV’s portfolio encompasses pioneers like the generative AI protocol Alethea AI, cryptocurrency aggregator CryptoSlam, and gaming platforms such as The Sandbox and Dapper Labs.
In addition to its syndicate operations, the venture capital firm has initiated a fund dedicated to supporting pre-seed to Series A web3 startups that exhibit strong tokenomics and utility designs across sectors like DeFi, gaming, metaverse, intellectual property, infrastructure, and consumer markets. On average, the fund offers $500,000 to entrepreneurs, while potential investors in RBV Fund I need to commit a minimum of $250,000 to participate. RBV Fund I The ecosystem cultivated by RBV also includes a community-focused NFT initiative, a decentralized autonomous organization (DAO), and an upcoming NFT rolling fund.
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Disclaimer
In line with the Trust Project guidelines Cindy, a journalist at Metaverse Post, specializes in covering web3, NFTs, the metaverse, and AI, primarily through interviews with key players in the Web3 space. She has engaged with over 30 high-level executives, sharing their invaluable perspectives with her audience. Originally from Singapore, she is now based in Tbilisi, Georgia, and has a Bachelor's degree in Communications & Media Studies from the University of South Australia, alongside a decade of experience in journalism.
