https://techcrunch.com/2022/07/06/bonfire-union-mask-network-maiden-fund/

Mask Network, a Binance-backed startup that enables users to send cryptocurrencies and encrypted messages on established internet platforms like Twitter, has an ambitious goal: to become the corporate venture capital powerhouse in web3 as Tencent has done in web2.

To that end, the five-year-old company recently completed the first close of its venture investment arm called Bonfire Union. With a fresh $42 million in its coffer, the firm plans to invest in the “social ecosystem” of web3, a version of the internet built largely on blockchain that promises to be more decentralized.