Skip to content
Multicoin Capital launches new $ 100 million fund to bet on crypto startups and tokens – TechCrunch

Crypto startups couldn’t be hotter as currencies surpass all-time highs and investor appetites turn manic for new ventures. Crypto investment firms that have been investing in blockchain startups for years are not only starting to see a major move in their portfolio, but are regaining LP’s appetite after a long winter of crypto to make bigger bets. and more daring.

Austin-based Multicoin Capital has been investing in blockchain, cryptocurrency and token startups since 2017 with a separate venture capital fund and hedge fund. Today, the company announced that it has raised its second venture capital fund in an effort to further capitalize on the rampant excitement in the crypto world. The new $ 100 million fund will help the company support new entrants to the space, including companies tackling DeFi, digital collectibles, Web3 and encrypted infrastructure.

The Multicoin team says it has already been investing in this fund for several months and it seems the timing is more aligned with the promotion of three of the company’s employees – Matt Shapiro, Mable Jiang and John robert reed – partner status. The team is only 12 years old, but is looking to grow as they strengthen their remote presence in other geographies.

The company’s previous bets include The Graph, Solana, Torus, StarkWare and Arweave, among others.

Source link