Former ConsenSys venture exec launches $50 million fund, with backing from large family offices

Sep 22, 2021 | The Block News | 0 comments

former-consensys-venture-exec-launches-$50-million-fund,-with-backing-from-large-family-offices

Less than two months after starting the deck for it, Kavita Gupta — a former executive at ConsenSys – announced the close of the cryptocurrency market’s last crypto fund: Delta Blockchain Fund.

The new vehicle closed after receiving about $50 million in commitments from a wide range of investors, Gupta told The Block in a phone interview. Delta Blockchain Fund will also uniquely be one of the few venture efforts led by a woman CEO. As a founding managing director, Gupta backed companies such as unicorn financial-services firm BlockFi and scaling technology company Starkware.

Her new fund has already deployed capital to several startups across different categories of the crypto market, including non-fungible token projects like Swap Kiwi and Taker. Other investments include Nahmil, Monster Hunt, Metaverse AI, and FODL. These investments reflect the fund’s mandate to back startups in the institutional, decentralized finance, blockchain-based gaming, and NFT spaces.

“Delta Blockchain Fund is a strategic partner for outstanding founders building products to scale and support a decentralized world irrespective of their chain solution,” Gupta said in a statement. “We truly believe that the future will be on multi-chain, and we want to support various cross bridging scalable multi-chain solutions and dapps on them.”

Gupta tapped into the mounting wave of institutional interest, counting large family offices such as Perle Venture, an Australian family office, and Skyvision, a Singapore firm. Other backers include crypto executives like Diogo Monica, founder of Anchorage; Richard Ma, founder of Quantstamp; and Samyak Jain of InstaDapp.

© 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

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