Hack VC Raises $150M For Web3 Investments, Sees Blockchain Future Like Early Internet
• Hack VC raised $150M for its first venture fund, adding to $200M crypto fund raised last year and total AUM exceeding $425M • Firm focuses investments on blockchain infrastructure like security, scalability, and performance • Key sectors are DeFi, which mirrors profitable embedded fintech investing in Web2, and AI • NFTs have struggled lately but "blue chip" NFTs still have value; too early to tell if they will rebound • Compares state of Web3 now to early internet in mid-1990s - usable for some but needs improvements for mainstream