Coinbase Ventures Arm Invests $10M in Venture Fund Targeting Underrepresented Founders
Investment Focuses on Early-Stage Companies Led by Women, POC, and LGBTQ Founders
Coinbase Ventures Continues to Drive Innovation and Inclusivity in the Crypto Industry
Coinbase Ventures, the venture capital arm of leading cryptocurrency exchange Coinbase, has announced a $10 million investment in a new venture fund focused on supporting underrepresented founders in the crypto industry. The fund, called "Uncommon Ventures," will invest in early-stage companies led by women, people of color (POC), and LGBTQ founders.
The investment is part of Coinbase Ventures' ongoing commitment to diversity and inclusion in the crypto ecosystem. The firm believes that underrepresented founders face unique challenges in accessing capital and support, and that this fund will help to level the playing field.
Uncommon Ventures was founded by managing partners Rebecca Kaden and Cecilia Pagkalinawan. Kaden is a former venture capitalist at Lightspeed Venture Partners, while Pagkalinawan is a former executive at Coinbase. The fund will invest in companies across a range of crypto-related sectors, including decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 infrastructure.
The investment in Uncommon Ventures is Coinbase Ventures' latest move to support diversity and inclusion in the crypto industry. In 2021, the firm launched a $20 million fund to invest in early-stage companies led by female founders. Coinbase Ventures also recently joined the Diversity VC initiative, which is committed to increasing the representation of underrepresented groups in venture capital.
The investment in Uncommon Ventures is a significant step forward for Coinbase Ventures and for the crypto industry as a whole. By investing in underrepresented founders, Coinbase Ventures is helping to create a more inclusive and equitable ecosystem.
**Conclusion**Coinbase Ventures' investment in Uncommon Ventures is a strong signal that the firm is committed to diversity and inclusion in the crypto industry. This investment will help to level the playing field for underrepresented founders and create a more inclusive and equitable ecosystem.
