Interplay Launches Blockchain Fund I
The $10M multi-strategy fund will be headed by new partner, Brett Palatiello, and will be investing in early-stage companies, tokens, special situations and other funds.
NEW YORK, New York—July 26, 2022— Interplay, a startup ecosystem based in NYC that includes offerings for entrepreneurs at every stage of their journey, today announced the launch of its Blockchain Fund I. This fund will fall under the purview of the new Blockchain vertical. Led by Brett Palatiello, it will focus on opportunities leveraging public blockchains. The move comes as the company expands and continues to highlight its dominance in the venture capital space, tapping into up-and-coming innovations in crypto and Web3.
The multi-strategy fund will invest in early-stage companies, tokens, special situations and other funds. It may also touch on developing startups from the ground up that utilize blockchain technology through Interplay’s Foundry, the vertical that builds businesses from scratch alongside talented entrepreneurs.
“We believe that blockchain technology is one of the most promising technological innovations since the internet,” said Mark Peter Davis, Founder and Managing Partner at Interplay. “Despite current challenges in the market, we foresee extraordinary growth in the blockchain market over the next few years and are excited to double down in this space, helping scale innovative companies.”
Prior to joining Interplay, Palatiello was Head of Research, Systematic Macro & Equities at Ridgewood Analytica, where he provided research and technology consulting services to hedge funds, asset managers and family offices. Before that, he was a Partner at Spring Valley Asset Management where he developed and managed an award-winning systematic global macro product. He holds an MBA from Columbia Business School and a Bachelor of Science in Finance from Quinnipiac University.
“Blockchain technologies are fundamentally changing the way we interact with the digital world,” said Palatiello. “As a result, we’ve seen an explosion of creativity and entrepreneurship. Our interdisciplinary expertise will allow us to identify and scale the companies and protocols that will come to define this next iteration of the internet.”
More information about the fund can be found at interplay.vc/blockchain.
Interplay is an ecosystem where ideas scale. Its mission is to accelerate humankind’s potential by streamlining the journey of the entrepreneur. The ecosystem currently includes six verticals that cover all the needs of a founder, startup or limited partner: venture capital, family office, incubator, foundry, core-operating services and education. Their roster of service companies provides support to 10% of all venture-backed companies in the US, creating material synergy for their portfolio companies which include Coinbase, Warby Parker, Jellysmack, GRIN, Provi and many others. For more information, visit https://www.interplay.vc/.