Paper Ventures has launched a $25 million Web3 venture capital fund. The fund was raised through traditional hedge funds, family offices, exchanges, founders, and other high net worth early participants in the crypto field. One of the partners, Blakey, is a co-founder of Ascensive Assets and an early supporter of Frax Finance, SEI, Polygon, Injective, Polkadot, Moonbeam, and Cosmos.