Oak Grove Ventures, a venture capital fund specializing in early-stage investments, has recently launched with a $60 million capital fund. The fund aims to support startups operating in the fields of web3, artificial intelligence (AI), and biotechnology. Founded by Shawn Shi, co-founder of crypto payment solutions provider Alchemy Pay, Oak Grove Ventures brings together a team of experienced professionals in the investment and technology sectors.
Joining Shi at Oak Grove Ventures are investment partners Sally Wang, former vice president of Sino Global Capital (now Ryze Labs), and Zac Pan, former associate partner at Lightspeed Venture Partners. The fund also collaborates with several technical partners, including Ethan Wang, former tech lead of Libra (now Diem), and Rongjian Lan, former co-founder and CTO of Harmony. Michael Li, former vice president of Coinbase, serves as the fund’s technical advisor.
Oak Grove Ventures aims to provide vital financial backing and support to innovative startups at the early stages of development. The fund will primarily focus on companies working in the web3, AI, and biotech sectors, which are all experiencing significant growth and opportunities for disruption. By investing in these cutting-edge industries, Oak Grove Ventures aims to foster innovation and drive technological advancements.
Web3 refers to the decentralized web, where blockchain technology and decentralized networks are utilized to create a more transparent and secure online environment. This emerging field holds immense potential to revolutionize various sectors, including finance, supply chain, and governance.
Artificial intelligence, on the other hand, encompasses the development of intelligent machines that can perform tasks that typically require human intelligence. From self-driving cars to advanced data analytics, AI has the power to transform industries and revolutionize how we live and work.
Biotech startups are at the forefront of developing innovative solutions for healthcare, agriculture, and environmental sustainability. These companies leverage advancements in genetics, biopharmaceuticals, and bioengineering to address critical challenges and improve quality of life.
By supporting startups in these sectors, Oak Grove Ventures aims to create a diverse portfolio of promising ventures while driving technological progress and generating significant returns for its investors. The fund’s team brings a wealth of experience and expertise, ensuring that the selected startups receive not only financial support but also valuable guidance and mentorship.
With its $60 million capital fund, Oak Grove Ventures is well-positioned to make substantial investments in the most promising early-stage companies. By identifying and nurturing innovative startups in the web3, AI, and biotech domains, the fund aims to contribute to the growth and success of groundbreaking businesses that have the potential to shape the future.
