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The Dlab programme was developed in 2019 to focus on start-ups in the Web3, decentralisation and blockchain space.
SOSV, the US-based venture capital firm that focuses on tech start-ups, has announced that its Dlab start-up development programme has spun out as a standalone fund this year.
Former SOSV general partner Shawn Broderick and partner Nick Plante are the founding general partners of the new Dlab fund – the first time a start-up programme has spun out from the firm.
SOSV confirmed that it will be the anchor limited partner to the new fund, which was launched on 1 January this year. The Dlab fund offers capital and mentorship to selected founders.
The Dlab start-up programme has been around since 2019, building a portfolio of early-stage start-ups focused on infrastructure for Web3. It was started by Broderick and Plante when they began working with founders involved in Web3, decentralisation and blockchain technologies.
“Shawn and Nick have done a great job in backing pioneering blockchain companies that will really matter and side-stepping the nonsense,” said Sean O’Sullivan, SOSV managing general partner.
“Blockchain, DeFi, and distributed apps have a wealth of applications where they provide fundamental value and will succeed. I’m proud of the Dlab companies that will remain in the SOSV portfolio, and I look forward to Dlab earning great returns for all its limited partners.”
SOSV said investments in Dlab companies made to date will remain part of SOSV’s portfolio and Broderick will continue to look after his legacy SOSV investments as a venture partner.
“After more than 4 years proving out Dlab as part of SOSV, Nick and I are ecstatic to take things to the next level as an independent fund,” said Broderick.
“The promise of decentralisation made possible via blockchain technologies represents a generational opportunity to create a more transparent, open, and participatory world.”
In the summer of 2020, SOSV general partner Bill Liao launched a new pre-accelerator programme at Talent Garden in Dublin to focus on deep-tech start-ups. This followed SOSV’s $277m raise at the end of 2019.
Disclosure: SOSV is an investor in Silicon Republic.
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