Alchemy plans to raise $12 million for a new fund

According to a message from ChainCatcher and documents submitted to the U.S. Securities and Exchange Commission, the Web3 developer platform Alchemy is raising $12 million for its venture capital fund Alchemy SPV III, with fundraising yet to begin. The documents indicate that Alchemy co-founder and CTO Joseph Lau is listed as the fund's executive, but no specific details on the fund's use are provided.

It is reported that Alchemy has a history of making Web3 investments through its venture capital division and a separate grant program. Last December, the company established a venture capital division that invested in crypto companies such as OpenSea and Dapper Labs. In June of this year, the company raised $25 million to create a grant program aimed at guiding startups and developers in building within the DeFi or NFT space. (CoinDesk)