Web3 venture capital firm Theory Venture launches its second $450 million fund

Jinse Finance reported that Theory Venture, a venture capital firm focusing on early-stage investments in the fields of data, artificial intelligence, and Web3, announced that after launching its first $238 million fund in April 2023, its second fund has raised $450 million. The new fund will further expand its support for innovators. It is reported that the new fund will focus on following three areas: data analytics, artificial intelligence as a new platform, and Decentralization infrastructure as a database. It has already led a $16.5 million Series A funding round for Allium, an enterprise blockchain data platform. Its founder, Tomasz Tunguz, said that the rise of artificial intelligence and the mainstream adoption of encryption and blockchain will bring transformative opportunities for startups.