Investment firm Reverie announced a $20 million crypto venture fund called Reverie Fund One.

The firm provides monetary support for pre-seed and seed-stage startups. In addition, Reverie will play an advisory role in the investee's community building, business model construction, marketing and more.

"Our bet is the next generation of founders will change things by building truly useful products," Reverie co-founder Larry Sukernik said on social media.

"If we want to make this happen, it all starts with picking the right investor — someone who is always by your side, thinks incredibly long-term like you do, and is going to help you dismantle the incumbents," he added. "We’ve designed Reverie to be that partner to founders."

Reverie team

Sukernik previously participated in over 100 investments at Digital Currency Group, according to his LinkedIn. Reverie's team also includes Derek Hsue, former investor at Blockchain Capital, and former vice president of operations at Genesis Global Trading Carl Bergman.

Reverie did not immediately respond to a request for comment from The Block.