Shima Capital, a new venture entity concentrating on early-stage blockchain initiatives, has reportedly introduced its debut fund to offer assistance to emerging digital asset firms, with major backing. 

Specifically, the Shima Capital Fund I reportedly managed to reel in $200 million from numerous top-tier crypto investors, including Dragonfly Capital, Animoca Brands, and OKX, as revealed by the firm. 

The deployment of the firm is reportedly scheduled to be finalized between $500,000 and $2 million via pre-seed funding for crypto- and blockchain-centric establishments at the intersection of consumer products, decentralized infrastructure, and futuristic blockchain.

Particularly, Shima has reportedly singled out decentralized identity, decentralized social media, decentralized autonomous organizations (DAOs), blockchain gaming, metaverse, and decentralized finance (DeFi) as key aspects to focus on. 

Regarding the blockchain infrastructure aspect, the fund further looks to make investments in layer-1 and layer-2 technology, together with initiatives concentrating on security and the growth of zero-knowledge proofs.

Funding poured into early-stage firms will reportedly be dedicated towards onboarding and retaining human resources, growing communities, marketing, and carrying out technical research and development.

“Web3 aims to revolutionize participation in a wide variety of fields, from technology to the arts. However, it needs those participants to see what its potential holds”. 

Established last year by crypto hedge fund investor Yida Gao, Shima Capital has reportedly onboarded an executive team that includes the former head of DeFi at Ripple Labs, a former venture partner at Old Fashion Research, and the former head of talent at Atomic VC.