{"id":84723,"date":"2023-09-19T18:27:21","date_gmt":"2023-09-19T15:27:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84723"},"modified":"2025-09-12T19:04:54","modified_gmt":"2025-09-12T16:04:54","slug":"oak-grove-ventures-launches-60-million-fund-with-focus-on-web3-and-ai","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/oak-grove-ventures-launches-60-million-fund-with-focus-on-web3-and-ai\/","title":{"rendered":"Oak Grove Ventures launches $60 million fund with focus on Web3 and AI"},"content":{"rendered":"<p>Oak Grove Ventures, the venture firm co-founded by Sean Shi, co-founder of Alchemy Pay, has launched a $60 million fund to invest in early-stage startups with a focus on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\">Web3<\/a>, AI, and biotechnology. <a href=\\\"https:\/\/www.theblock.co\/post\/251718\/oak-grove-ventures-crypto-fund\\\">The Block<\/a> reports.<\/p>\n<p><!--more--><\/p>\n<p>The firm&#8217;s partners include Sally Wang, former vice president of Sino Global Capital (now Ryze Labs), and former Lightspeed Venture Partners partner Zach Peng.<\/p>\n<p>In addition to those named above on the fund&#8217;s team are Ethan Wan, former CTO of Libra (later Diem); Rongjian Lan, co-founder and CTO of Harmony; and Michael Li, former vice president of Coinbase.<\/p>\n<p>The fund&#8217;s leadership expressed optimism about the timing of investments.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>\u201c<em>The bear market often means that asset prices have reached a low point, which makes it an optimal time to buy<\/em>,\u201d they explained.<\/cite><\/p><\/blockquote>\n<p>In previous years, Oak Grove Ventures operated as a family office and invested in more than ten firms, including SpaceX, Open Sea and ConsenSys.<\/p>\n<p>Earlier, the San Francisco-based venture firm Blockchain Capital<a href=\"https:\/\/forklog.com\/en\/news\/blockchain-capital-raises-580-million-for-two-crypto-funds\"> raised $580 million<\/a> for two new investment funds.<\/p>\n<p>Also in September, Kasikorn Bank (KBank), the second-largest by assets in Thailand, through its subsidiary Kasikorn Business Technology Group<a href=\"https:\/\/forklog.com\/en\/news\/kbank-launches-100m-ai-and-web3-focused-fund\"> established a $100 million<\/a> structure that will invest in startups with a focus on AI and<a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\"> Web3<\/a>.<\/p>\n<p>In August, the amount of financing raised by crypto firms following investment rounds <a href=\"https:\/\/forklog.com\/en\/news\/report-crypto-venture-deals-rise-40-in-august\">increased by 39.8%<\/a> relative to July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oak Grove Ventures launched a $60 million fund to invest in early-stage startups with a focus on Web3, AI, and biotechnology.<\/p>\n","protected":false},"author":1,"featured_media":84724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1285],"class_list":["post-84723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-funds"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84723"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84723\/revisions"}],"predecessor-version":[{"id":84725,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84723\/revisions\/84725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84724"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}