Crypto’s New Trend? $10M Fund for SocialFi—It’s Not a Joke, Promise!

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Well, well, well, it seems the crypto world isn’t done throwing curveballs just yet. Enter Re7 Capital, who have grand plans to back around 30 early-stage startups. These startups are not your typical blockchain ventures—oh no, they sit smugly at the intersection of decentralized finance and social media. Luc de Leyritz, the fresh face at Re7, a man who has graced the halls of Cherry Ventures, will be leading the charge. His belief? SocialFi is the “next big thing” in crypto, though apparently, not everyone in the crypto world is sipping the same Kool-Aid just yet. 😏

Early-Stage Strategy: Big Ambitions, Modest Fund

Hold on to your hats, folks, because Re7’s fund is a mere $10 million. Yes, you heard it right—$10 million, which is like a small change in the crypto universe. But don’t be fooled by the modesty. Re7 is here to make bold moves with high-conviction, early investments. Each startup will get a check that’ll range from $100,000 to $300,000, with extra reserves to keep the ball rolling. And here’s the kicker: no fancy fee-driven nonsense. They plan to be fast, disciplined, and not get distracted by the shiny, fee-driven incentives that others love to chase. Leyritz calls this a “scout vehicle” for early-stage investments, not some traditional asset-under-management drama. If they’re right, and the thesis actually works (I know, a huge “if”), Re7 might just go for a bigger follow-up vehicle. 🚗💨

Big Names, Bigger Promises

So, who’s behind this spectacularly bold (and slightly insane) initiative? Well, Re7 isn’t doing this alone, obviously. They’ve got some heavy hitters in their corner, including the mighty Lens Protocol (founded by Aave’s Stani Kulechov) and Farcaster co-founder, Dan Romero. Oh, and let’s not forget, several existing Re7 limited partners are backing this too. Though the fund is still shy of its $10 million goal, they’ve already locked in over 60% of the capital. A second close is just around the corner. I mean, who wouldn’t want to get in on this crazy train? 🚂

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2025-04-30 21:44