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Setter aims to address "the complexity and unfriendliness of current wallet technologies," making entry into Web3 a more seamless experience for more users.

NEW YORK--(BUSINESS WIRE)--Chainforest is a first-check web3 VC firm supported by the Chainforest DAO and its community. The organization launches today, and applications to join its community and DAO are now open to the public. The Chainforest community consists of more than 400 full-time web3 operators from organizations such as Polygon, Solana Foundation, Ava Labs, Consensus, Poolsuite, and Friends with Benefits. Community members, dubbed “Rainmakers,” can earn $RAINDROP (tokenized carry in the fund) for supporting the Chainforest investment practice. Because of Chainforest’s unique structure, unlike other investment DAOs, its membership is not limited to 99 members, and anyone may receive admission to the DAO without necessarily contributing capital to the fund. Founded by Amit Mukherjee, who spent more than nine years at the top-tier VC firm NEA, Chainforest began as a Telegram chat filled with thoughtful, daily discussion about all areas of web3. The community members enjoyed the discussion and network so much, they urged Amit to invest more of his time into building it and suggested he convert it into a DAO. Because community involvement is such a critical component of most web3 projects, a community-supported investment firm felt like a natural evolution for web3 VC