Key Takeaways
- • Tekin Salimi, a former general partner at Polychain Capital, is launching dao5, a $125 million crypto venture fund focused on seed and pre-seed investments, according to Forbes coverage.
- • dao5 plans to convert into a decentralized autonomous organization (DAO) by 2025, with founders of portfolio projects receiving governance tokens.
- • Typical initial checks are expected to range from $500,000 to $2 million across Layer 1 infrastructure, privacy, DeFi, DAOs, gaming, and NFTs.
- • Key operational details on tokenomics, governance, and token transferability remain undefined, with Salimi saying the team has "around three years to figure it out."
- • The advisory board includes Emin Gün Sirer (Avalanche), Do Kwon (Terra/Luna), and Meltem Demirors (CoinShares).
Summary
Tekin Salimi, a former general partner at crypto venture firm Polychain Capital, is launching dao5, a $125 million venture fund that will invest in seed and pre-seed crypto companies and projects, according to Forbes. The fund plans to convert into a decentralized autonomous organization by 2025. Per Forbes, the fund will invest across a range of crypto verticals, including Layer 1 blockchain infrastructure supporting networks such as Ethereum and Solana, privacy technology, decentralized finance, DAOs, gaming, and NFTs. The average investment is expected to fall between $500,000 and $2 million.
The proposed structure would grant founders of each portfolio project governance tokens in the future DAO, giving portfolio founders financial exposure to one another's work. Upon conversion, the fund's legal entities would be dissolved, and tokens would be issued to the investment team, advisory board, and portfolio founders. Salimi described the goal as exploring "a new model to bootstrapping a DAO," focusing first on talent and capital acquisition through venture investing and then on growing treasury value.
Forbes reported that many details remain unresolved, including tokenomics, governance mechanics, and whether the tokens will be transferable. Salimi acknowledged much of the roadmap is still to be determined and said the industry would need to deliver tools and regulatory clarity, stating, "We have around three years to figure it out and get it entirely right." The advisory board includes Emin Gün Sirer, founder of Avalanche, Do Kwon, founder of Luna, and Meltem Demirors, chief strategy officer at CoinShares. Salimi did not disclose whether Polychain has backed the fund. The report also noted that Bessemer Venture Partners recently launched a DAO under its own name.
The proposed structure would grant founders of each portfolio project governance tokens in the future DAO, giving portfolio founders financial exposure to one another's work. Upon conversion, the fund's legal entities would be dissolved, and tokens would be issued to the investment team, advisory board, and portfolio founders. Salimi described the goal as exploring "a new model to bootstrapping a DAO," focusing first on talent and capital acquisition through venture investing and then on growing treasury value.
Forbes reported that many details remain unresolved, including tokenomics, governance mechanics, and whether the tokens will be transferable. Salimi acknowledged much of the roadmap is still to be determined and said the industry would need to deliver tools and regulatory clarity, stating, "We have around three years to figure it out and get it entirely right." The advisory board includes Emin Gün Sirer, founder of Avalanche, Do Kwon, founder of Luna, and Meltem Demirors, chief strategy officer at CoinShares. Salimi did not disclose whether Polychain has backed the fund. The report also noted that Bessemer Venture Partners recently launched a DAO under its own name.
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