• Pitango is an Israeli firm that has opened First Labs web3 labs that are thesis driven.
• Pitango, a well-known venture capital firm with a base in Israel is Pitango.
• First Labs supports early stage companies using web3 technology by supporting investment.

Pitango Venture Capital has launched First Labs a thesis driven web3 lab. Pitango is Israel’s leading venture capital firm that operates seed and early venture fund Pitango First.

First Labs supports investment in companies at early stages using web3 technologies such as tokenization, blockchain and NFTs. The company will identify sustainable growth models using equity or token-based investments. First Labs, a network of partners that provides mentoring and support for projects looking to realize their full potential, will also be available.

Describing the development, Ayal Itzkovitz, managing partner at Pitango First, states that they’ve been involved in the crypto space in the last five years and have been following it closely.

The time has come to connect the VC and crypto-native communities in a relevant, new vehicle that fosters innovation and supports sustainable venture building within the Web 3.0 space.

First Labs is set to operate First DAO (a new investment DAO), which will be primarily operated by First Labs. Aviv Barzilay is one of the DAO’s founding members. He was also one of Pitango First’s core team members and some of the most prominent blockchain experts, such as Tomer Itai, Amit Dekner and Elad Mo.

Aviv Barzilay, head of First Labs says, “From liquidity mining to token engineering, First Labs is designed to answer the unique needs of the crypto space. Our platform allows founders and members of the community to connect, and it will help web2 companies make the jump to web3 without fear. Having partnered with top crypto-native companies and domain experts, First Labs has the expertise to unlock the web3 universe and everything it has to offer.”

First Labs, according to the team, aims to bring together web2 and traditional technology worlds by allowing web2 companies into the rapidly growing space. Investors will be able to find the first web3 unicorns easier.

First DAO will gradually give stewardship of its community to the decentralized, autonomous structure. First Labs is now out of stealth mode. It plans to launch its program to help web3 teams accelerate in two months. First Labs’ community will be a key player in helping to advance the development and concept of the ideas and projects that it supports through the First Labs Program.

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