Cyber.Fund to allocate $100m to blockchain, AI and IoT-focused projects

One of the earliest Ethereum sponsors — the investment firm Cyber.Fund —will earmark $100m to support projects at the intersection of blockchain with AI, robotics and the Internet of Things (IoT).

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We are excited to re-introduce cyber•Fund, a private investment company run by @Lomashuk and @_vshapovalov. Since 2014, we have partnered with 150+ projects in the blockchain space. Today, we are re-launching our firm publicly with a new $100mm venture arm.

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— cyber•Fund (@cyberFund_) December 14, 2023

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The fund is focused on developing ‘cybernetic economy’ — an interconnected and automated economic structure around which the aforementioned technologies will converge.

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The founders are convinced that their efforts will accelerate transformations over the coming decades and ‘raise humanity to new, unprecedented heights’.

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In addition to Ethereum, the firm provided seed funding to teams in Dfinity, Cosmos, Solana, Celestia, EigenLayer, among more than 150 other projects.

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Cyber.Fund will focus on supporting startups in the following areas:

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• advanced cryptographic systems (notably on ZKP, fully homomorphic encryption);

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• DeFi;

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• state networks;

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• cybernetic organisations (BORGS);

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• alternative reputation systems and data markets;

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• robotics;

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• AI-driven systems, agents and devices.

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Earlier in November, IBM announced the creation of a venture fund — IBM Enterprise AI Venture Fund — worth $500 million, aimed at AI projects.