Red Beard Ventures, a Web3 venture capital firm, has raised $25 million in funding from investors including Marc Andreessen and Chris Dixon of a16z, Animoca Brands, SuperRare, and others. The funding will support the launch of Denarii Labs, an accelerator program aimed at promoting the adoption of Web3 technologies, which will provide advisory services, mentorship, and launch support for token projects. The program is currently accepting applications for its first cohort, which will receive $100,000 each to build their brand. Red Beard Ventures has invested in 192 companies, including Dapper Labs and The Sandbox, and focuses on early-stage projects in decentralized protocols, blockchain technology, DeFi, and Web3 gaming infrastructure.
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