A group of alumni from prominent names in the cryptocurrency and fintech sectors has unveiled Oak Grove Ventures, a new venture capital fund with a hefty $60 million war chest. Oak Grove Ventures is dedicated to exploring the exciting convergence of Web3, artificial intelligence, and biotechnology.
The team behind Oak Grove Ventures, headquartered in Singapore, boasts a lineup of seasoned professionals, each with an impressive background in their respective domains. Notable figures within the fund include Sally Wang, formerly associated with Sino Global Capital (now Ryze Labs); Ethan Wang, who previously served as the tech lead for Libra; Shawn Shi, co-founder of Alchemy Pay; and Michael Li, a former Vice President at Coinbase.
Sally Wang, who serves as the head of investments for the fund, articulated the team’s vision for Oak Grove Ventures, stating, “We understand that the journey of building groundbreaking technologies is not just about capital; it’s about fostering a community of visionaries, pioneers, and founders who share our passion for innovation. With this fund, our strategy is simple yet profound: to raise funds for the founders.”
While Oak Grove Ventures has officially launched as a dedicated venture capital fund, it previously operated as a family office. During this prior incarnation, it built a notable track record of successful early-stage investments. The press release notes that Oak Grove Ventures has provided support to more than 30 projects in the past. Their disclosed investment portfolio features eight funds and 14 high-quality projects, including such renowned names as SpaceX and Neuralink.
This launch comes on the heels of Blockchain Capital’s announcement of securing an impressive $580 million for two new funds primarily focused on cryptocurrency investments. Remarkably, a substantial portion of Blockchain Capital’s investors hails from traditional institutions, a noteworthy development given the digital asset market’s challenging year.
