This article comes fromThe Block, original author: Aislinn Keely

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• , original author: Aislinn Keely

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Valkyrie announced the upcoming launch of a venture capital fund focused on early-stage "Web 2.5" companies.

The fund will invest in startups based in the US and Israel.

Valkyrie is raising money for an upcoming venture capital fund focused on early-stage "Web 2.5" companies.

Valkyrie has introduced a number of financial products to the market in recent months, but it is now working on a different kind of fund. Valkyrie Ventures is the firm's first foray into venture capital. It has hired Lluis Pedragosa to lead the project. Lluis Pedragosa comes from the venture capital firm Team8, which focuses on enterprise technology, artificial intelligence and fintech.

Valkyrie will focus primarily on startups based in the U.S. and Israel, both areas Pedragosa is familiar with. The types of startups the program hopes to invest in are those aimed at bridging the gap between ordinary users and Web3, which Pedragosa and Valkyrie call "Web 2.5." According to Pedragosa, bridging the gap between the familiar Web 2 user experience and Web 3 asset connectivity is the way to reach the next billion blockchain users.

"I'm looking for companies that provide a Web 2.0 user experience and have the underlying encryption infrastructure of Web 3, so that people can use these assets without even knowing that they are using the blockchain. The point is that users don't need to know," Pedragosa said. All these things are Web 3 or blockchain, and people generally don’t want to know.”