Israel-based venture capital firm Pitango has launched an investment DAO.Pitango, one of Israel's leading venture capital firms, has launched a decentralized autonomous organization to invest in web3 projects.
"We are breaking the traditional VC model and will issue a token," Aviv Barzilay, head of First Labs at Pitango, told The Block in an interview. Barzilay declined to share a timeline for the token launch, details on tokenomics and the investment amount the DAO is launching with.The main reason for Pintago to launch the DAO is to onboard Israel's web2 startups, especially in the infrastructure and cybersecurity space, to web3, said Barzilay.
Founding members of the DAO include Barzilay himself, other unnamed core members of the Pitango First team, Celsius project manager Tomer Weiss, play-to-earn blockchain gaming startup Kryptomon's chief strategy officer Amit Peled, digital identity solutions company SuperCom's external director Oren De-lange and crypto PR firm MarketAcross's partners Nadav Dekner, Elad Mor and Itai Elizur.
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