Ethereum OG has earmarked $100 million to invest in cryptocurrency, AI, and robotics.
Early Ethereum investors Konstantin Lomashuk and Vasiliy Shapovalov are again increasing their financial stake in the new technology with the “relaunch” of an investment firm called Cyber.Fund, where they plan to invest $100 million of the startup’s capital.
“This new $100 million fund will serve our current portfolio companies as well as new projects and teams.” Cyber.Fund said in the post X on Thursday. “Its mission is to accelerate the transition to an open cybernetic economy by supporting innovating entrepreneurs in blockchain, AI, robotics and adjacent technologies.”
Cyber.Fund is led by Konstantin Lomashuk and Vasiliy Shapovalov, both of whom said they invested in Ethereum in 2014. When asked why now, Lomashuk told The Block that the motivation is focused on fostering the development of these new technologies. “We believe that by investing capital, we can accelerate the technology,” Lomashuk said.
The $100 million investment firm is funded entirely with capital from Cyber.Funds’ founders, a spokesperson said in an email.
New capital continued to flow into cryptocurrency and blockchain companies last year, but the amount invested slowed significantly compared to the bull market. Meanwhile, investment in artificial intelligence has surged, partly due to interest in projects like ChatGPT.
Early believers in top cryptocurrency projects
Prior to this relaunch, Cyber.Fund was primarily active from 2014 to 2018, according to Lomashuk. According to Thursday’s announcement, the company has made early investments in projects such as Ethereum, Cosmos, Polkadot and Solana, as well as helping build Lido Finance and P2P. Lomashuk co-founded Lido Finance.
“Our goal is to create a more open, efficient and sustainable economy,” Cyber.Fund said in a post. “We believe that by working to accelerate the growth, adoption, and ultimate decentralization of these technologies, the world will enter a new era of unprecedented prosperity.”
Cyber-Fund believes the emergence of a “cybernetic” world is inevitable and sees blockchain, robotics and AI playing a key role in shaping this new paradigm.
“We invested in Ethereum and built staking to keep it censorship resistant and decentralized,” Lomashuk said. Now, “instead of building, we can invest in founders with the same values to build open source (technology) that is good for humanity.”
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