Uniswap Labs introduces venture arm to back in web3 projects

Uniswap Labs introduces venture arm to back in web3 projects

Uniswap Labs, a leading decentralized trading and automated market-making protocol on Ethereum, has recently unveiled a venture capital arm for investing in web3 projects.

As per the firm, the new arm dubbed Uniswap Labs Ventures will be investing in companies across various areas and stages within web3, from developer tools to infrastructure and consumer-facing applications,

The investments are said to be completed directly from the company's balance sheet. However, any details related to how big these checks are going to be and how much capital from the balance sheet will be devoted to the fund were not disclosed by the firm.

For heading the venture arm, Uniswap is planning to bring in Matteo Leibowitz along with Mary-Catherine Lader, the company’s chief operating officer.

As per credible reports, Leibowitz worked at Uniswap as a lead of strategy in August 2020 and was a research analyst before that at The Block for around two years.

The new team of this venture is planning to play an active role in on and off-chain governance when appropriate. It has explicitly declared plans of taking part in the governance systems of Aave, Compound, MakerDAO, and Ethereum Name Service (ENS) till now.

The news comes amid a week after a class-action complaint was filed against Uniswap Labs and its founder and its backers, including Paradigm, Union Square Ventures, and Andreessen Horowitz (a16z), for supposedly engaging in fraud of rampant on the exchange.

Moreover, Uniswap Labs recently secured funding of $11 million in a Series A round in August 2020, which was headed by a16z.

Uniswap joins an increasing segment of crypto-native companies formally now dedicating resources to investing in other companies in the ecosystem, including DeFi protocol Cake and crypto exchange FTX, both of which have recently launched venture funds.

Source Credit - https://techcrunch.com/2022/04/11/defi-giant-uniswap-launches-venture-arm-to-invest-in-other-crypto-companies/