The fund will leverage DCG’s experience of backing web3, DeFi, and crypto startups as it looks to expand its investment activity to reach more early-stage businesses at pre-seed and seed.
Luno Expeditions, which has no dedicated size, intends to fund between 200-300 startups each year and diversify beyond crypto into the broader fintech space.
DCG remains operational despite Luno Expeditions’ spinoff. The venture capital company, which focuses on the digital currency market, would continue to invest in digital assets and later-stage companies from Series A up.
Meanwhile, Luno Expeditions chose not to dedicate an exact amount of capital for its portfolio companies because it provides flexibility on matching deployment to what it sees in the market. The fund will invest between USD 50,000 to USD 250,000. Multiplied by the number of startups it plans to back each year, Luno Expeditions is expected to fork out between USD 15 million to USD 75 million yearly.
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