Multicoin Capital debuts new $100M fund to bet on crypto startups and tokens
|TechCrunch 04 May 2021 at 12:51|
Austin-based Multicoin Capital has been around since 2017 investing in blockchain startups, cryptocurrencies and tokens with a venture fund and separate hedge fund. Today, the firm announced its raise of its second venture fund as it aims to further capitalize on rampant excitement in the crypto world. The new $100 million fund will help the company back new entrants in the space including companies tackling DeFi, digital collectibles, Web3 and crypto-enabled infrastructure.
Multicoin’s team says that it has already been investing out of this fund for several months and it seems the timing is more aligned with the promotion of three of the firm’s employees — Matt Shapiro , Mable Jiang , and John Robert Reed — to Partner status. The team is just 12, but is looking to expand as they build out their remote presence in other geographies.
The firm’s previous bets include The Graph, Solana, Torus, StarkWare and Arweave, among others.