The NEAR Foundation, a non-profit organization based in Switzerland, has made an announcement on the launch of an innovation center and venture capital fund for web3.

Caerus Ventures, a recently established investment business, will work in conjunction with the NEAR Foundation, a nonprofit organization that promotes the administration and growth of the NEAR protocol, to carry out the program.

The most recent step in NEAR’s growth comes at the same time as the platform is preparing to launch its most important event of the year, which will be called NEAR CON BETA and will take place in Lisbon, the capital of Portugal, from September 11 to September 14, 2022.

The inaugural closing of the venture capital fund is set to take place with $50 million. During seed to Series A investment rounds, it will make an effort to raise a total of one hundred million dollars.

The first investment made by Caerus will be in the Venture Lab, which will concentrate on bringing together innovators, talented individuals, and franchise owners in order to develop the next generation of web3 platforms and apps.

Marieke Flament, chief executive officer of the NEAR Foundation, made the following statement:

“The Lab will give cross-functional assistance to portfolio initiatives and will be backed by advisory partners who will be announced by the end of this year,” says the description of what the Lab will do.

Caerus was founded by Nathan Pillai, an executive who had spent the previous five years working at IMG/Endeavor, where he oversaw the mergers and acquisitions process and the development of new ventures for entertainment companies including Larry Ellison’s SailGP.

Pillai expressed his hope that the company will be a catalyst for innovation that will unleash a new generation of platforms, applications, and services across the fields of sport, music, film, television, fashion, art, and gaming that provide greater equity for both consumers and talent. This hope was expressed in a statement that was released to the press.

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