Investment firm Lemniscap raises $70 million to support Web3 project

Investment firm Lemniscap said it has raised a $70 million fund to support early-stage Web3 projects. The fund will focus on projects in the Bitcoin ecosystem targeting zero-knowledge infrastructures, consumer apps and decentralized physical infrastructures (DePINs). The fund is managed by New York-based venture capital firm Accolade Partners, which raised more than $1 billion for three funds earlier this year.