A new digital asset fund venture may reignite market growth despite the Securities and Exchange Commission’s efforts to reign in the US crypto industry. California-based Alpha Sigma Capital and Puerto Rico-based Transform Ventures have partially merged to raise $100m for investment in Web3’s future. Alpha Sigma Capital CEO Enzo Villani stated that blockchain and Web3’s real growth is starting to happen. Transform Ventures, as one of the world’s largest blockchain PR firms, has launched 150+ tokens, including Ethereum, Tether, and Dash. Michael Terpin, Transform’s CEO, has invested $2.65m in the new fund. Two funds will be established, with the first one, the Alpha Liquid Digital Asset Fund, receiving a $2.65m personal investment from Terpin, and the second one being a closed-end venture capital fund focused on the blockchain space. These funds are hoped to fuel startup growth in the Web3 space, with 2023 being a key building year before Bitcoin’s next halving event in Spring 2024.
