Web3 venture capital firm Theory Ventures launches second new fund with $450 million

Theory Venture, a venture capital firm focused on early-stage investment in data, artificial intelligence, and Web3, announced that after launching its first $238 million fund in April 2023, its second fund has raised $450 million and will further expand support for innovators. It is reported that the new fund will focus on three areas: data analysis, artificial intelligence as a new platform, and decentralized infrastructure as a database. It has already led the $16.5 million Series A financing of the enterprise-level blockchain data platform Allium. Its founder, Tomasz Tunguz, said that the rise of AI and the mainstream adoption of encryption and blockchain will bring transformative opportunities for startups.