New Order raises $4M to launch venture DAO incubator
- Outlier Ventures, LedgerPrime, Digital Finance Group etc. joined the funding round
- DAO to launch 20-30 projects per year
- Venture platform will serve DeFi protocols and L1 networks for projects that require cross-chain development
The purpose of New Order’s venture DAO incubator is to launch projects centering on the concept of DeFi becoming increasingly multi-chain, machine intelligent, and incorporating newer and newer digital assets. The DAO incubator will launch in early December and several incubated projects will be announced in the next months, Invezz learned from a press release.
An impressive roster of investors
Among the angel and venture investors to join the private fundraising round were Outlier Ventures, LedgerPrime, Digital Finance Group, Near Foundation, Mapleblock Capital, FalconX, Youbi Capital, Perpetual Protocol founder Yenwen Feng, and others.
Incubator to launch tens of projects every year
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The incubator has prepared three projects in cooperation with well-known partners. They are awaiting launch in the next two months. The DAO intends to launch an average of 25 projects per year.
Eden Dhaliwal, cofounder of New Order, stated:
DeFi is entering a new phase and most investors and alliances which help early teams are not getting their hands dirty enough at the ground level – this means building alongside founders. With our DAO structure, we are really committing to gathering the best DeFi builders while funding and building out in the open with the community from day 0.
Yenwen Feng commented:
As a DAO, New Order prioritizes building over investing, sweat capital over venture capital and permissionless incubation community over permissioned investment groups.
Shiliang Tang, Chief Investment Officer of LedgerPrime, said:
As a firm, we see how coordination through DAOs is changing collaboration among early stage venture creators. Our involvement with New Order is with the plan of empowering builders to work through structures that are outside the traditional venture model.
James Wo, CEO of Digital Finance Group, added:
By developing a revenue generating DeFi marketplace alongside its venture portfolio, New Order will build one of the largest and most diversified DAO treasuries.
New Order’s designated venture platform will serve DeFi protocols and L1 networks for projects that require cross-chain and cross-community development. The existence of a dApp marketplace is an innovative aspect of New Order’s DAO.