Shima Capital Launches $200 Million Web3 Venture Fund Backed by Dragonfly and Others

Crypto venture capital firm Shima Capital has raised $200 million for its first venture capital fund to back early-stage Web3 startups with participation from Dragonfly, Animoca Brands, OKX, Mirana Ventures, Republic Capital, Digital Currency Group and others. Group, and others. Founded by Wall Street veteran Yida Gao, Shima Capital Fund I will focus on pre-seed and seed stage investments. More than half of the Shima team is devoted to post-investment operational support services such as engineer recruiting, community marketing and token design.