‘Shark Tank’ entrepreneur launches $3M crypto fund in North Carolina

·1 min read

A new micro fund is being launched in the Triangle — and it’s targeting crypto, blockchain and other technologies some think will power the next phase of the internet.

The new firm, dubbed Layer 1 Ventures, focuses on startups in what’s called the “Web3″ — a decentralized concept where the internet would be powered by blockchain technology and not major companies.

ALSO READ: Local startup lands $500K investment on ‘Shark Tank’

It’s the brainchild of serial entrepreneur Ryan Bethencourt.

Bethencourt is a Triangle transplant, having recently moved to the region along with his companies, including Wild Earth, a vegan dog food company that made it to “Shark Tank.” Bethencourt and his wife, Mariliis Holm, chose the Triangle for their previous micro fund, Sustainable Food Ventures. The firm, which invests in food startups, has been a big success, Bethencourt said.

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