Telford Ventures, a North Carolina-based venture capital firm raised $30m to invest in web3 founders building on the blockchain and to strengthen its web3 portfolio ahead of the 2024 bull-run, at a pre-money evaluation exceeding $280m.
The financing round was led by existing and institutional investors, alongside the firm’s longstanding strategic partners, as they sought to expand operations and get more involved in the ever-growing blockchain industry.
The funds will be used to onboard and accelerate up to 50 unique projects focusing on the open internet and the web3 ecosystem, ahead of the upcoming bull run.
The venture capital firm has a diversified portfolio, ranging from stocks to real estate, and web3. According to its managing partner on investments, Mason Merrill, the firm has been converting its investments to be more crypto-focused over the years, betting big on the space.
Telford Ventures will now focus mainly on early-stage blockchain projects raising seed or Series A round. Established projects looking for funding to expand and grow their operations will be considered as well, as they can invest in either tokens or equity.
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Bermuda, Bermuda, 19th June 2024, Chainwire