Anand Iyer, Founder of Canonical Crypto, announced on Twitter that he has successfully raised $20 million for his first fund. The fund will invest in early stage web3 & crypto infrastructure projects for blockchain development. Their aim is to support developers making the transition from web2 to web3.
Prior to starting Canonical, Anand was a Visiting Partner at Pear VC where he focused on their crypto investments. Canonical Crypto was born out of a desire to support early-stage founders building blockchain infrastructure. Anand Iyer defines this as anything that can make developers more productive from code collaboration to testing to security to storage.
Canonical Crypto expects to invest in 40 to 50 projects with the first fund, writing checks ranging from $250,000 to $500,000 from pre-seed to seed round investments. The firm will offer operational support with a focus on helping founders transition from web2 to web3. Specifically in regards to tailoring their tooling for the right set of users and a go-to-market strategy to get the solution to the best audience.
