NEAR Foundation announces a $100 million venture capital fund in cooperation with Caerus

The NEAR Foundation, a Swiss non-profit non-beneficiary organization supporting the NEAR Protocol with its resources introduced a venture capital fund with an initial closing of $50M and a target of $100M for seed and series-A investments.

A venture lab is going to be the first to be invested in and it will work with Web3 creators and talents, developers and engineers, franchise owners and venture builders, to create new unique IPs (Intellectual Properties) and platforms. The aim of the project is to further develop the Web3 entertainment ecosystem fields like sports, music, film, fashion, art, and gaming.

Caerus is a Venture Capital Fund and Venture Lab backed by the Near Foundation that was launched recently by an IMG/Endeavor executive Nathan Pillai and is focused on the tokenization of entertainment and decentralization of rights and licensing.