30 March 2023
KR1 PLC
(“KR1” or the “Company”)
Investment: Hydra Ventures
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$500,000 into Hydra Ventures (Cayman), LLC (“Hydra Ventures” or “HYDRA”) in return for 5,000 HYDRA tokens.
Hydra Ventures is a newly launched investment DAO (Decentralised Autonomous Organisation) focusing on supporting and incubating investment DAOs across the web3 ecosystem. Hydra Ventures has raised $10 million to invest in 20-30 investment DAOs over the next three years and also aims to help incubate investment DAOs from day one. Hydra Ventures intends to take a hands-on approach, supporting everything from community coordination to organizational design. The company is owned and operated by its members, who have extensive experience across the entire investment DAO landscape.
George McDonaugh, Managing Director and Co-Founder of KR1, commented:
“We are excited to join Hydra Ventures, who are taking a unique approach to support investment DAOs and promoting the growth of the web3 ecosystem. As the DAO landscape continues to evolve and specialise, a ‘fund of funds’-style DAO becomes increasingly relevant. This is the right team at the right time to take this kind of project forward.”
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
KR1 PLC +44 (0)1624 630 630
George McDonaughKeld van SchrevenPeterhouse Capital Limited (AQSE Corporate Adviser) +44 (0)20 7469 0930
Mark AnwylFTI Consulting LLP (PR Adviser) +44 (0)7711 387 085
Laura EwartKR1@fticonsulting.com
About KR1 plc
KR1 plc is a leading digital asset investment company supporting early-stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the longest and most successful track records of investment in the digital assets space by investing in decentralised platforms and protocols that are emerging to form new financial and internet infrastructures.
www.KR1.io
