The new fund, led by founding general partners shawn broderick Y Nick Plantewill continue to invest in startups exploring new frontiers in decentralization and blockchain technology

PRINCETON, NJ, January 11, 2023 /PRNewswire/ — The global multi-stage venture capital firm SOSV today announced the spin-off of dlabbits startup program focused on decentralization and blockchain technologies, as an independent fund, effective January 1, 2023. The news marks the first time that SOSV has created an SOSV start-up program as an independent fund.

The new fund will be led by founding general partners shawn broderick Y Nick Plante, former general partner and partner of SOSV, respectively. SOSV will be the anchor limited partner in the fund.

“Shawn and Nick have done a great job of supporting pioneering blockchain companies that will really matter and avoiding bullshit,” he said. Sean O’Sullivan, General Managing Partner of SOSV. “Blockchain, DeFi and distributed applications have a large number of applications where they provide fundamental value and will succeed. I am proud of the dlab companies that will remain in the SOSV portfolio, and I look forward to dlab earning great returns for all of its limited companions.”

SOSV’s investments in dlab companies made to date will continue to be part of SOSV’s portfolio, and Broderick will continue to manage his legacy SOSV investments as SOSV’s venture partner.

In 2018, Broderick and Plante began working with the founders innovating on Web3, decentralization, and blockchain to find the early stages of building the infrastructure needed to realize the vast ambitions of the Web3 universe. In 2019, SOSV launched the dlabb startup development program, which offers capital and mentorship to carefully selected founders.

Despite the endemic oscillations of the crypto On the blockchain side, dlab’s Web3 thesis has proven to be solid. In the last four years, SOSV has invested in 23 dlab startupsincluded:

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• API3, build own oracles to feed data on-chain via trustless applications

• deferment of paymentcreating a decentralized exchange for expiries without order books or liquidity pools

• composable financetrustless cross-chain interop engineering

As dlab took shape, SOSV deepened its commitment to deep tech startups focused on human and planetary health. While there are applications for blockchain technology in climate and health, SOSV and dlab decided that the best path for dlab’s continued success and growth was to become an independent fund.

“After more than four years of proving dlab is part of SOSV, Nick and I are delighted to take things to the next level as an independent fund,” said dlab’s founding partner. shawn broderick. “The promise of decentralization made possible through blockchain technologies represents a generational opportunity to create a more transparent, open, and participatory world.”

About dlab

dlab was created by SOSV in 2018 to provide capital and resources to pre- and early-stage Web3 projects creating more open, transparent, and participatory systems using blockchain and other decentralization technologies. dlab inversions are protocol independent and global in scope.

https://dlab.vc/ | Follow @dlab | Connect with us on LinkedIn

About SOSV

SOSV is a global venture capital firm that offers investment in various stages, beginning with pre-seed startup development programs designed for founders with innovative technologies that address human and planetary health. With $1.5 billion At AUM, SOSV operates early-stage startup development programs including HAX (hard tech), IndieBio (human and planetary health), and Orbit Startups (emerging markets). The SOSV ecosystem spans the globe, with over 1,000 startups operating in 60 countries and programs based on NY, Newark, San Francisco, Shenzhen, Carry off, TaipeiY tokyo.

https://sosv.com/ | Follow @SOSV | Connect with us on LinkedIn

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