Groups of people seeking to invest together have been turning to the crypto-native DAO (decentralized autonomous organization) structure for a collective decision-making framework. While an investment DAO typically can only have up to 100 members in order to stay compliant with SEC rules, Orange DAO has found a way to bring over over 1,000 Y Combinator alumni together to back web3 startups through an associated venture fund.
Orange DAO just raised $80 million in funding, mainly from two strategic investors: layer-one blockchains Algorand and Near, general partner Ben Huh told TechCrunch in an interview.
“They wanted to support our mission of bringing more entrepreneurs into web3. For them, working with us and getting exposure in front of our entrepreneurs is really important, because if one of our members builds a billion-dollar DeFi protocol, the investment that they …
