Uniswap Labs introduces cryptocurrency venture arm to invest in web3 projects

Uniswap Labs on Monday has launched a cryptocurrency venture unit focused on investing in a variety of web3-based projects, according to the company's blog post. Some of those projects that Uniswap Labs Ventures wants to invest in include infrastructure, developer tools and consumer-facing applications, the company said. Matteo Leibowitz will run Uniswap Labs Ventures, alongside Chief Operating Officer Mary-Catherine Lader. The new division has already invested in 11 crypto projects, including Aave, Compound Protocol and MakerDAO, the blog said. Meanwhile, Uniswap Labs' native digital token Uniswap (UNI-USD +1.7%) is slightly rising to $9.34 in the past 24 hours. In April 2021, Crypto exchange eToro added Uniswap to its crypto offerings.