Europe’s biggest crypto dev shop, BoostyLabs, and Hypra Fund have launched a joint venture studio for early-stage Web3 projects. The initiative also got support from Clust venture builder.
Boosty Venture Studio provides its portfolio projects with the best dev team in Europe, a network of industry-leading VCs, legal and operational support, and an initial investment of up to $300,000. It becomes a co-founder of each of the projects.
Boosty is looking for infrastructure projects, tools for developers and software-as-a-service solutions for Web3. It’s already incubated two startups, with plans to invest in five more by the end of the year. One of them is Stroom Network, a liquid Bitcoin staking protocol on the Lightning Network built by Lido and Bitfury alumni.
All founding partners of the studio are prominent Ukrainian investors and entrepreneurs. They have built successful tech companies with hundreds and thousands of employees. The initiative is led by crypto media veteran Nick Schteringard, former editor-in-chief of Forklog.com.
Igor Pertsiia, managing partner of Hypra, has closed over 50 venture deals throughout his career at TA Ventures. He advises Boosty’s startups on fundraising strategies.
“We are looking for ambitious founders from Ukraine and all over the world to build Web3 together. I’m especially proud that we invest in Ukrainian entrepreneurs. Our country is leading crypto adoption despite the ravaging full-scale war,” said Pertsiia.
Ryslan Tymofieiev, founder of Clust, has built a performance marketing company with 2,000 employees and a presence in 30 countries. Together with Adventures Lab partner Ruslan Drozdov, he mentors Boosty’s startups on operations efficiency.
“The ultimate goal of venture building is to accumulate experience, knowledge and methodologies to help startups overcome the death valley. It’s all about creating a systemic approach to building companies,” added Tymofieiev
Founders can submit an application here to join Boosty’s 2022 batch.