Coinbase Ventures assumes group lead for onchain private investment platform Echo, focusing on Base-built projects

Coinbase Ventures, the investment arm of the crypto exchange Coinbase, has become a group lead for the onchain investment platform Echo. 

In this new role, Coinbase Ventures will focus on funding projects built on Base , the Coinbase-incubated Layer 2 network, through the Base Ecosystem Fund on Echo, according to a Thursday company release .

Since its unveiling in September 2023, the Base Ecosystem Fund has funded over 40 projects, including the decentralized exchange Aerodrome , DeFi lending protocol  Morpho , web3 restaurant loyalty platform  Blackbird, and others. 

"Onchain investing allows accredited and qualified investors to participate in ways that were previously out of reach, while giving founders access to a broader and more dynamic capital base," Coinbase Vice President of Corporate & Business Development Shan Aggarwal and Head of Base and Coinbase Wallet Jesse Pollak said in a statement. "We’re excited to broaden access to capital for Base builders and enable more people to participate in the next wave of innovation."

Echo allows individual crypto traders to band together and invest collectively in web3 projects. A group lead on Echo gives investment deal access to a select circle of users.

The high-profile crypto trader Jordan Fish, known as "Cobie," launched Echo in March 2024, The Block previously reported.