The popular crypto podcast Bankless is making a major move into the venture capital space with the launch of a $35 million fund. Hosts David Hoffman and Ryan Sean Adams, along with Ben Lakoff, will serve as general partners in the fund, which will focus on investing in early-stage Web3 businesses.

The Bankless podcast, which was founded in 2020, has become a major presence in the crypto media world, with its signature podcast, newsletters, YouTube channel, and decentralized autonomous organization (DAO). The venture capital fund will be a separate legal entity from the podcast, but it will benefit from the Bankless brand and its strong multi-platform presence.

According to one source in venture capital, the combination of the podcast and the investing arm will result in “amazing deal flow” for the young VC. The fund’s mission is to “empower pioneers to explore the frontier of Web3,” according to a draft website.

In November 2020, Bankless also launched Bankless Labs, a new division that acquired the Earnifi software project from DeFi. “Bankless is going beyond the media,” Adams said in a blog post. “We are currently developing tools for your DeFi journey.”

The launch of the venture capital fund is the latest move by Bankless to expand its reach in the crypto space. With its strong brand and multi-platform presence, the fund is sure to be a major player in the Web3 space.