Asylum Ventures, a venture capital firm, has launched a new $55 million fund focused on investing in early-stage startups. The fund plans to invest $1 to $2 million in pre-seed and seed-stage companies.

Behind the initiative are Nick Chirls, founder of Notation Capital and an early investor in Livepeer, Solana, Near, and Bison Trails (now Coinbase Cloud), and Jonathan Why, former Head of Growth at Aztec Networks.