A Chicago VC firm that invests in blockchain, metaverse, NFTs and other "Web3" technologies has closed its inaugural fund.
Decasonic, led by Paul Hsu, announced Tuesday the final close of its $48.8 million fund. Called the Disruptive Innovation Venture and Digital Assets Fund, it will invest in blockchain, decentralized finance, gaming, metaverse, NFTs, DAOs and other Web3 startups.
The fund announced a $20 million first close back in October. Decasonic has invested in more than a dozen startups so far.
Hsu was an early employee at Zynga, a gaming company that went public in 2011. He and his family moved to Chicago to launch Decasonic, which he leads alongside Allister Lam, a 13-year Google veteran who joined the search giant after it acquired his previous company, DoubleClick.
Investors in Decasonic include anchor investor The Pritzker Organization, which is led by Tom Pritzker. Other investors in the fund include Chicago VC firm Corazon Capital and Columbus-based Drive Capital.
Along with providing capital, Decasonic says it also provides technical and operational expertise to help founders build their businesses at the earliest stages.
