Cryptocurrency Focused Multicoin Capital Launches $430M Venture Capital Fund

- Advertisement -


- Advertisement -

Crypto venture capital company Multicoin Capital has announced the creation of a new fund, the third and largest to date, with $430 million.

- Advertisement -

“As evidenced by our first and second venture funds, some of the best opportunities come in bear markets,” Tushar Jain, co-founder and managing partner of Multicoin Capital, told TechCrunch. “Estimates are more reasonable; founders are more focused, long-term and motivated; and real users explore projects they are genuinely passionate about.”

He plans to invest between $500,000 and $25 million in early-stage projects and up to $100 million in companies in later stages.

- Advertisement -

“While this is our largest venture capital fund, we deliberately raised this amount to allow us to do what we do best, which is to invest with high conviction, in a practical way, at the earliest stages,” Jain said. “Big funds require more trades or larger check sizes. We believe we are most effective when we can dedicate real time and thought to projects as partners right from the start.”

The company was founded in May 2017 and has invested in cryptocurrencies, tokens and blockchain companies, managing a venture and hedge fund in both the public and private markets. His portfolio companies include Ethereum Tier 1 blockchains and Solana and the second largest crypto exchange in the world, FTXamong others.

“After nearly a decade of infrastructure development, crypto is finally moving up the stack,” Kyle Samani, co-founder and managing partner of Multicoin Capital, told TechCrunch. “Now you can build multi-protocol applications and create consumer-grade experiences.”

These applications require elegant key management solutions, inputs and outputs, familiar data structures, fast response times, lookups, and more, Samani says. “However, these primitives are finally here, and we are excited to invest in the pioneers who use them to bridge the chasm.”

The new fund will focus on several areas of the crypto ecosystem, including web3 infrastructure, decentralized finance (DeFi), decentralized autonomous organization (DAO) tools and new business models for collaborating on intellectual property, to name but a few.

While there has been significant growth in the DeFi and DAO space over the past few years, the market has cooled down, although Multicoin Capital believes it will continue to grow in the long term.

“Apart from infrastructure maturity, cryptocurrencies have captured the imagination of the public,” Samani said. “NFTs have now become mainstream culture and every brand and social app is trying to figure out what their crypto strategy is. At the same time, the creators consider cryptocurrency to be a better and more direct way to attract fans and monetize according to user needs. The culmination of these forces makes areas like creator monetization, DAO tools, and new crypto-enabled IP models very attractive.”


Credit: techcrunch.com /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox