Late in the summer of 2021, I wrote an original proposal for an idea called âNEW DAOâ, a web3 native ecosystem fund that would be owned, run, and controlled by NEW INC members. The impetus behind the fund was that many NEW INC projects are not natural fits for traditional venture investment-- and that there could be interesting collective and codirected approaches to allocate capital towards member projects. This proposal also coincided with discussion within NEW INC about a desire to create an investment fund. Eventually, this âNEW DAOâ proposal grew into an active group of individuals working to help build and shape the idea further.