Former Polychain partner launches a $125 million crypto venture fund "dao5" and plans to transition to a DAO format
Chain Catcher news, former Polychain partner Tekin Salimi has launched a $125 million crypto venture fund "dao5," which will provide funding of approximately $500,000 to $2 million for pre-seed and seed round financing.
In addition, Salimi plans to transform the fund into a DAO by 2025, during which DAO5 tokens will be minted and issued to the fund's investment team, advisory board, and founders of portfolio companies. The legal entity comprising the fund will be dissolved, and the assets of the general partners will be permanently transferred to an on-chain treasury owned and managed by DAO5 token holders. (Source link)
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