PRESS RELEASE. 20th May 2024 – BasedVC, the leading Web3 venture capital firm catering to retail investors, and the Bored Ape Yacht Club (BAYC) through a community led initiative Apes Plus, are thrilled to announce their collaboration on the launch of Apes Capital. Apes Capital is a community-led venture capital built for Apes by Apes.
BasedVC and Bored Ape Yacht Club Launch Apes Capital To Build Community-led VC
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Press release
BasedVC is the premier Web3 solution to the dearth of funding recently plaguing the startup world. As both Web2 and Web3 projects grapple with deal-making and are seeing their longest drought, basedVC adopts blockchain technology as the solution for funding projects in the Web3 space. Traditional VC creates barriers to investing with several hurdles, including lengthy KYC procedures and exclusive deals to high-networth individuals. BasedVC breaks down these barriers by allowing retail investors in approved jurisdictions to leverage the power of community, tokenized ownership, and democratized investment methods to become an investor.
The firm’s vision is to create access to investment opportunities regardless of financial background. New projects on the blockchain can enjoy funding through a platform that facilitates pooling funds together to serve as capital. A wide range of deals are available for the ordinary investor that would have been only available to the whales.
The BAYC is arguably the most influential NFT project in the world. It’s a collection of 10,000 NFTs with a mix of standalone NFTs and 1 of 1 NFTs. Members of the coveted community may now invest in Web3 startups seamlessly.
With this collaboration, basedVC, Ape Plus, MAYC and the BAYC are tapping into the rapidly growing world of decentralized VC. The Apes Capital platform will be a dedicated portal exclusive to Bored Apes and Mutant Apes. Members of the clubs will be able to use the Ape Coin to gain access to investment opportunities in top-tier projects.
Apes Capital will utilize basedVC’s best-in-class licensed legal structure, which empowers retail investors to participate in communities to pool capital. BasedVC due diligence and solid project tracking will give Apes peace of mind.
For Apes, the venture capital will prevent members from being used as exit liquidity on traditional exchanges. The collaboration will see Apes Capital include its own announcements, feed, links, chat, over-the-counter and ticketing system.
At press time, Apes Capital has deployed over $40 million of capital and invested in over 20 projects such as Shrapnel, Nillion, Heroes of Mafia, Supraoracles, etc.
The partnership promises the basedVC, BAYC, and its community the limitless potential that decentralized finance can unlock. The importance of community-driven initiatives can only be net positive for the Web3 landscape.
About BasedVC
basedVC is a regulated limited partner investment vehicle offering early-stage investment opportunities to select web3 communities, as well as holders of our future NFT project. basedVC provides Investment-as-a-Service to the masses. Our goal is to open the gates of seed and early round investing to both native and non-native web3 users in a safe, hassle-free, and efficient manner.
About BAYC
The BAYC launch was on April 30, 2021, and all 10,000 apes were minted within 12 hours. Since then, Yuga Labs, the company behind the BAYC, has developed the BAYC brand into a burgeoning ecosystem that includes NFT collections, cryptocurrency, and even a metaverse project. What has distinguished BAYC from other NFT projects has been its strong sense of community and consistent generation of new content.
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