Re7 Capital Establishes $10 million SocialFi Fund to Invest in 30 Startups

Re7 Capital has announced the creation of a $10 million SocialFi special project fund to invest in around 30 early-stage projects. Although the sector is currently slow to develop, Re7 partner Luc de Leyritz said "the time is ripe" and the infrastructure, talent and user behavior have reached a resonance. The fund will invest in the form of an initial cheque of $100,000 to $300,000, focusing on supporting emerging SocialFi platforms in the ecosystem such as Lens Chain and Farcaster. The first round of funding is 60% subscribed.