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Uniswap Labs. the company running Ethereum-based decentralized exchange Uniswap has launched a new venture which will invest in projects across Web3.
The announcement made on Monday revealed that Strategy lead Matteo Leibowitz will run “Uniswap Labs Ventures,” alongside COO Mary-Catherine Lader. It said:
“Uniswap Labs Ventures will invest in teams at different stages and levels of the web3 stack, from infrastructure to developer tools and consumer-facing applications. We’re also focused on investing in projects that are closely aligned with our values: building for the long term, collaborating openly with communities, and putting users first.”
Uniswap has already invested in 11 crypto projects and several other native protocols in the web3 ecosystem, including Tenderly, LayerZero, Aave, Compound Protocol, PartyDao and MakerDao.
Uniswap Lab Ventures follows an emerging trend of crypto firms investing in Web3 entities other than themselves. In January, crypto exchange FTX established FTX Ventures with a $2B fund, with a special interest in gaming.