CoinFund launches $83 million venture fund, mandate includes DeFi, NFTs

Jul 20, 2021 | The Block News | 0 comments

coinfund-launches-$83-million-venture-fund,-mandate-includes-defi,-nfts

CoinFund — a cryptocurrency investment firm that’s backed the likes of Dapper Labs and Rarible — announced Tuesday the close of its third fund to further pour capital into the DeFi and NFT markets. 

The new venture capital fund, which raised $83 million in fresh capital from investors like Venrock, enters the world as private crypto markets heat up.

Excluding Block.one’s $9.7 billion injections into Bullish Global  —  there was roughly $6.2 billion in private investment, or approximately a 90% increase in venture funding quarter over quarter, as noted by The Block Research. 

Founded in 2015 by Jake Brukhman, CoinFund has invested in dozens of companies and projects, including DeFi projects like Serum and Paraswap and Layer-1 networks such as Near Protocol and Polkadot. The new fund will have a similar mandate:

“We are routinely evaluating where the puck is going, what verticals are next and questioning our assumptions. The process works well and we’ve been positioned early in the most exciting areas of the space, from base layers to DeFi and NFTs. Our core focus areas are DeFi, NFTs, infrastructure services, middleware, asset tokenization and beneficiaries of stablecoin adoption. We also recently added interest in decentralized autonomous organization (DAO) infrastructure to the list.”

Listen to our podcast episode with CoinFund’s head of portfolio growth Vanessa Grellet. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

Newly-filed legislation in Uruguay aims to regulate digital assets

Newly-filed legislation in Uruguay aims to regulate digital assets

Juan Sartori, a senator of Uruguay since 2020, has introduced a bill that would legalize digital assets within the country, allow businesses in Uruguay to accept crypto for payments, and provide a regulatory framework for incorporating crypto into its financial...

Pin It on Pinterest

Share This