Hack VC Closes $150M Fund for Crypto, AI Startups

Hack VC, a web3 venture capital firm, closed its oversubscribed Venture Fund I at $150 million for early-stage crypto and artificial intelligence (AI) startups. Venture Fund I expands on the firm’s initial $200 million fund, giving the firm $350 million in total commitments.

The fresh capital brings the firm’s total assets under management to approximately $425 million.

Led by Alex Pack and Ed Roman, the fund invests in blockchain infrastructure and web3-native companies. The firm, which invests up to $10 million per project, has already invested approximately one-third of the fund in early-stage projects.

The fund’s initial investments include infrastructure protocols that have advanced technology and significant fundamental traction, such as EigenLayer, Berachain and AltLayer, the firm said.

“With millions of users and regulatory clarity emerging across the world, it is clear that web3 is here to stay. Yet, like the early days of the Internet, web3 still requires an infrastructural paradigm shift in scalability, security, and usability before it is ready for mainstream usage,” said Pack, managing partner at Hack VC.

The investment strategy is built on a research-driven approach focused on infrastructure, including Web3, financial, and Web3 x AI.