Alexis Ohanian, Reddit’s cofounder and Ventures partner to create a new fund for Web 3.0 projects and social investments. This could be the beginning of the next generation of crypto startup founders.

Ohanian announced Tuesday at the Breakpoint Conference in Lisbon, Portugal that his Seven Seven Six venture firm and Solana Ventures have allocated $100 million to Web 3.0 and “decentralized social projects.” In an accompanying news release, the internet entrepreneur touted his venture firm’s expertise in “identifying and investing in early social and crypto trends,” such as Reddit, Patreon and Coinbase (NASDAQ:), among others.