Lu said the fund is oversubscribed, and he doesn’t want it to grow too large because Web 3 companies look for smaller rounds. They might be raising on
Lu said the fund is oversubscribed, and he doesn’t want it to grow too large because Web 3 companies look for smaller rounds. They might be raising only $1 million or less, Lu said, and average check sizes could be in the range of $250,000. The fund is already 30% deployed, with 80 deals complete.
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