KR1 plc Investment: Hydra Ventures

 
TIDMKR1 
 
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 McDonaugh 
Keld van Schreven 
 
Peterhouse Capital Limited (AQSE Corporate              +44 (0)20 7469 0930 
Adviser) 
Mark Anwyl 
 
FTI Consulting LLP (PR Adviser)                         +44 (0)7711 387 085 
Laura Ewart                                           KR1@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 
 
 
 
END

(END) Dow Jones Newswires

March 30, 2023 02:01 ET (06:01 GMT)

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