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Polygon and Reddit co-founder’s VC launch $200 million Web3 fund

Ethereum scaling project Polygon and Seven Seven Six, Reddit co-founder Alexis Ohanian’s venture capital firm, have jointly launched a $200 million fund to invest in Web3 social media and gaming projects. The fund is denominated in dollars and not in Polygon’s MATIC tokens, Polygon co-founder Sandeep Nailwal told The Block. It will invest in startups building on Polygon’s technology and back their equity as well as token rounds, said Nailwal. It is not clear by when the fund expects to …