Alchemy’s Venture Arm Wants to Align With 'Web3 Missionaries, Not Mercenaries’
Alchemy, builder of Web3 infrastructure used to create decentralized applications, launched a venture capital arm at the end of 2021 – a record-setting year for crypto investments. The main company was then valued at $10 billion during a $200 million fundraise in early 2022. The bear market has since crept in and all but stalled investments, but Alchemy continues to back early-stage investors.
Alchemy Ventures invests off the main company’s balance sheet and every dollar put out has to tie back to the top-level goals for the Alchemy ecosystem, Alchemy Ventures head Paul Almasi told CoinDesk in an interview. The venture arm isn’t as return-focused as a traditional venture capital fund. While returns are still important, the firm has three other primary goals: attracting early-stage founders to the Alchemy ecosystem, gathering strategic intel to make better decisions for the Alchemy roadmap and growing out the main team through acquihires or full acquisitions. Alchemy Ventures invests across blockchains and use cases, but areas of particular interest include end-user applications.
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