Upside DAO
Building a better model for distributed community collaboration with shared ownership.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $5.0m | Early VC | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 220 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Upside DAO operates as a decentralized autonomous organization and incubator with a strategic focus on the Web3 sector. Launched in October 2022, the entity secured $5 million in initial capital to invest in and support emerging Web3 startups, primarily within the Australian ecosystem. The organization was established by a collective of prominent Australian Web3 founders and entities, including representatives from Apollo Capital, Banxa, Caleb & Brown, Ren Protocol, Synthetix, and ZedRun, among others. One of its co-founders is Kyall Walker, who also serves as the General Manager.
The core mission of Upside DAO is to reinvest capital, industry expertise, and network connections back into the Australian Web3 landscape to foster local talent and encourage founders to build global-scale companies from Australia. Unlike a traditional investment fund, Upside DAO's investment decisions and portfolio advisory are coordinated by its members through a community-governed, blockchain-based voting mechanism. The DAO functions as a venture ecosystem, providing capital through a Founders Fund that offers investments up to $100,000 USD, access to a community of crypto-native founders and experts, and a central builders hub in Australia.
The business model is centered on identifying and nurturing high-potential startups across various Web3 domains. Its investment portfolio includes companies in DeFi, Web3 tooling, infrastructure, Metaverse, and GameFi. Initial investments have been made in companies such as Reservoir, a developer platform for NFT products; PrePO, a decentralized exchange for pre-token and pre-IPO assets; and Mirror Planet, a metaverse platform integrated with Google Maps. By acting as both an investment vehicle and an incubator, Upside DAO provides capital and structured support to help its portfolio companies navigate the complexities of the Web3 market. The DAO itself is a contributor-driven system where members, who are successful founders and experts, source, evaluate, and invest in new ventures.
Keywords: Web3 investment, decentralized autonomous organization, DAO incubator, Australian startups, blockchain investment, crypto-native founders, venture ecosystem, DeFi investment, GameFi funding, metaverse startups, NFT platform investment, community-governed fund, Kyall Walker, Apollo Capital, ZedRun, Synthetix, early-stage funding, crypto protocols, Web3 infrastructure, Australian tech ecosystem
