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Venture Capital

Investments

28

About Avon Ventures

Avon Ventures is a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments.

Headquarters Location

Massachusetts,

United States

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Latest Avon Ventures News

Share on X. X icon Grove Raises $7.9M for DePIN Network Building

Dec 1, 2023

Decentralized physical infrastructure (DePIN) provider Grove, previously named Pocket Network Inc., has raised $7.9 million from Fidelity-affiliated Avon Ventures, Placeholder Capital and Druid Ventures. Grove will use the funding to form new partnerships that advance DePIN toward mainstream adoption, according to an emailed statement shared with CoinDesk on Thursday. DePIN refers to the use of blockchain technology and token incentives to build physical infrastructure networks so other projects don't need to incur the costs of buying and running their own equipment. In this sense, it can be seen as a decentralized version of Amazon Web Services (AWS) or Google Cloud. Grove provides Web3 infrastructure for building products and services atop its POKT network, which supports over 40 different chains. The network's native token (POKT) has a market cap of just over $150 million and is currently up some 24% in the last 24 hours at $0.10.

Avon Ventures Investments

28 Investments

Avon Ventures has made 28 investments. Their latest investment was in Grove as part of their Series A on November 11, 2023.

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Avon Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/30/2023

Series A

Grove

$7.9M

Yes

3

7/11/2023

Series A

Alluvial

$12M

Yes

2

6/16/2023

Seed VC

Intuition

$4M

Yes

3

5/16/2022

Seed VC

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10

5/12/2022

Series B

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$99M

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10

Date

11/30/2023

7/11/2023

6/16/2023

5/16/2022

5/12/2022

Round

Series A

Series A

Seed VC

Seed VC

Series B

Company

Grove

Alluvial

Intuition

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Amount

$7.9M

$12M

$4M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

2

3

10

10

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