With the backing of prominent blockchain figures, Paper Ventures has launched a $25M venture capital fund targeting early-stage Web3 and blockchain initiatives. The fund aims to make a substantial impact in the nascent stages of project development.
The trio behind Paper Ventures—Danish Chaudhry, Oliver Blakey, and Ivailo Jordanov—brings a wealth of experience in venture capital investment within the Web3 sphere. By capping their fund at $25 million, their strategy focuses on early-stage ventures where they can significantly influence outcomes. The founders are set on providing not just capital but also guidance and support, leveraging their industry knowledge and networks to foster success. The fund’s creation saw input from a diverse group of investors, including hedge funds, family offices, and crypto pioneers.
Paper Ventures stands on the solid foundation laid by its founders, who have been active in the blockchain space since 2010. Their track record includes early investments in projects like Frax Finance, SEI, and Polygon—names that now lead their fields. Additionally, they have delved into GameFi, backing entities like Merit Circle and Illuvium, reflecting a knack for identifying and nurturing early potential.
Oliver Blakey, a former poker professional and one of Paper Ventures’ co-founders, brings a unique perspective with his expertise in game theory. His previous role at Ascensive Assets, where he managed a fund that reached over $1 billion in assets under management, demonstrates his ability to scale investment endeavors significantly. Blakey emphasized the venture’s role in pushing the envelope of technological and financial innovation and expressed a commitment to empowering those sharing their zeal for blockchain’s transformative potential:
“We are more than just investors. Our mission at Paper Ventures is to be at the very forefront of innovation, fostering groundbreaking ideas that redefine the boundaries of technology and finance. We believe in the transformative power of blockchain and are committed to supporting those who are as passionate about its potential as we are.”
The team’s depth is further enriched by Danish Chaudhry’s financial acumen, shaped by experiences at Ernst & Young and BlackRock, and Ivailo Jordanov’s entrepreneurial spirit, evidenced by his roles in Altitude.fi and Deadalus Collective. Chaudhry’s transition from traditional finance to launching FMFW.io, which attracted 1.5 million users, showcases his knack for growth and innovation. Jordanov, with his entrepreneurial successes, adds another layer of strategic insight to the firm.
Chaudhry’s enthusiasm is palpable as he looks forward to leveraging his entrepreneurial journey to support innovative technologies and visionaries through Paper Ventures: “Having navigated the highs and lows of entrepreneurship, I’m thrilled to embark on this next step in this journey. Our commitment is to empower visionary entrepreneurs, catalyze disruptive technologies, and drive the next wave of impactful change. With Paper Ventures, I’m excited to invest in groundbreaking ideas and also to use my experience to elevate the brilliant minds behind them, fostering a collaborative ecosystem that propels innovation to unprecedented heights.”
His goal is to create a synergistic environment that not only funds but also elevates the entrepreneurs, driving forward a wave of meaningful advancements in the tech space.
Paper Ventures positions itself as a catalyst for entrepreneurs with a forward-looking vision in the Web3 domain. The venture capital firm is built on a shared conviction in the potential of decentralized technologies to transform various industries. Its founders are deeply committed to identifying and supporting hidden gems in the digital landscape, aiming to set the stage for the future of the digital world.
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