Uniswap Labs Ventures (ULV), a venture capital fund focusing on investing in Web3 companies and initiatives, has been unveiled by the popular decentralized exchange (DEX) Uniswap.

The company will reportedly invest in various initiatives or technologies linked to Web3, infrastructure, developer tools, and consumer-facing applications at any stage of development.

Decentralized money market Aave, the decentralized autonomous organization (DAO) behind the DAI stablecoin, MakerDAO, and blockchain bridging technology LayerZero are among the 11 firms and Web3 protocols in which the firm has already funded.

Uniswap stated what it was looking for in other initiatives it was interested in supporting in the announcement, but did not divulge any further projects it planned to sponsor.

Uniswap founder, Hayden Adams addressed in a Twitter thread regarding the announcement

“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.”

Hayden also shared that ULV plans to participate in the governance of projects it invests in, including Aave, Compound Finance, Ethereum Name Service, and MakerDAO’s governance systems.

The amount of money managed by Uniswap’s venture fund has not been disclosed.

Matteo Leibowitz has been named Ventures Lead at Uniswap, and he will be working alongside Mary-Catherine Lader, the company’s COO. Leibowitz was previously the Uniswap Strategy Lead, as well as the publisher and editor of the now-defunct “Crypto Chat” weekly and a research analyst at The Block.

Venture capital firms are beginning to diversify crypto startups. FTX, a centralized exchange, announced a $2 billion fund to invest in Web3 companies in January, and most recently led a $350 million fundraising round for the NEAR Protocol (NEAR).