Redacted, a data and entertainment firm rooted in Web3, recently announced the debut of a new crypto fund tailored to help emerging Web3 and gaming startups. With backing from prominent firms such as Saison Capital, Expert Dojo, and Frekaz Group, this fund has already begun fostering innovation by providing capital to seven initial projects designed to enhance Redacted’s ecosystem. These ventures are expected to receive critical assistance in areas like market entry strategies and the development of token-based economic models, thus positioning them strategically within the broader Web3 landscape.
Unveiled during an unconventional airborne Web3 event called “Redacted Airways,” the fund is set on supporting decentralized applications across various domains such as entertainment, decentralized finance, and infrastructure. This initiative reflects Redacted’s vision of establishing an expansive ecosystem of decentralized solutions, leveraging the fund to further its mission of facilitating the creation and adoption of Web3 products.
Origins and Purpose of the Fund
According to Redacted’s CEO, Shanjan Kumar, the inspiration behind the fund emerged from a successful September event hosted in collaboration with Qatar Airways. This unique gathering attracted 300 participants from the Web3 industry, including influential venture capitalists, angel investors, and prominent figures like Aethir founder Mark Rydon, NFT collector Grail, Mario Nawfal, and the Crypto Banter team. During the event, over a dozen startup founders had the opportunity to present their projects to a panel of judges, who included representatives from Animoca Brands, Polygon, and Abu Dhabi Blockchain. Following further evaluation, seven companies stood out based on positive feedback from these expert judges, leading to Redacted’s decision to invest in them.
The first cohort of startups receiving funding includes Biptap, LegendaryWeb3, Hub.xz, Numa Social, Spaace.io, Ammalgam, and iAgentProtocol. Each of these companies will benefit from financial backing and access to Redacted’s upcoming native token, RDAC, which is intended to serve as an incentive for growth and to reinforce market fit. Kumar highlighted that the RDAC token aims to act as a growth catalyst, enabling portfolio companies to utilize the token in ways that align with their product objectives, thus facilitating iterations based on real-world application.
Redacted Ecosystem’s In-depth Support and Strategic Advisory
The Redacted Fund goes beyond mere capital allocation; it offers an extensive suite of advisory services designed to help portfolio companies execute effective go-to-market strategies. With a lineup of seasoned advisors from both traditional (Web2) and emerging (Web3) technology sectors, the fund ensures that startups receive support from experts who bring a range of insights and resources. Key advisors include Kevin Henrikson, an established entrepreneur, Qin En Looi, partner at Saison Capital, Brian Mac Mahon from Expert Dojo, and Frederic Bonelli from Frekaz Group. These advisors contribute not only their expertise but also their experience in assisting more than 500 companies collectively, enabling startups to gain from a wealth of practical knowledge and strategic guidance.
Redacted’s fund also aims to address a critical gap in the Web3 sector by equipping founders with tools and networks that help them overcome competitive pressures. Qin En Looi, of Saison Capital, emphasized the importance of Redacted’s distribution and market-entry expertise, which the fund now extends to other Web3 founders. The partnership with Redacted enables new companies to draw on a track record of proven execution and market acumen, which can be pivotal in navigating the highly competitive Web3 environment.
Funding Criteria and Investment Range
Aimed primarily at early-stage startups with existing products, the Redacted Fund is strategically positioned to support Web3 founders who seek funding, strategic advisory, and tailored go-to-market approaches. Typically, the fund is prepared to make initial investments of up to $250,000, targeting startups that demonstrate potential in innovation, market viability, and alignment with the Redacted ecosystem.
In its mission to solidify its presence in the Web3 sector, Redacted has secured over $10 million in funding from a host of influential investors and industry leaders. This global support includes contributions from high-profile names such as Animoca Brands, Spartan Group, Saison Capital, Polygon Ventures, Dingaling, and Yat Siu. Backed by this capital, Redacted continues to establish itself as a significant player in the Web3 landscape, fostering projects that reflect its commitment to decentralization, creativity, and technological advancement in the entertainment and finance spaces.
By launching this fund, Redacted aims to further its ambition of becoming a cornerstone of the Web3 ecosystem. This initiative stands as a testament to its dedication to cultivating the next wave of decentralized innovation, providing startups with the resources, guidance, and ecosystem they need to make meaningful strides in the rapidly evolving Web3 and blockchain spaces.