Yacine Ghalim

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December 5, 2023 # Thought Web3 was over? This VC just raised €15m to back startups in the sector ## “If you don’t invest in protocols, you can’t call yourself a tech investor anymore,” says Heartcore’s partner Yacine Ghalim Mimi Billing 4min read Web3, crypto, blockchain — these interconnected investment areas have gone from boom to bust, some many times over. This hasn’t scared Heartcore VC though. The Copenhagen-HQ’d VC is announcing it's closed €15m of a new €20m fund that will focus on investing in protocols and tokens. Protocols refer to technologies that allow for decentralised data sharing and tokens refer to digital assets on a blockchain. [...] With investments ranging from ​​$250k to $500k, Heartcore will focus on protocols and tokens built on top of the infrastructure built on Bitcoin and Ethereum, the world’s most popular Blockchain network. The focus is on areas such as decentralised finance like trading protocols, entertainment protocols like gaming, Web3 social as well as traditional software. “The time to invest in infrastructure was more like 5-10 years ago, and for the first time, we have infrastructure that is ready for primetime. These are things built at the application layer, which we think is the next thing that will happen in this space,” Ghalim says. ### The LPs [...] The fund is deliberately small and unlike normal VC funds that take ownership stakes in the startups they back, Heartcore will have tokens earmarked for the fund when (if ever)