Castle Island Raises $250M in Third Venture Crypto Fund

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Castle Island Ventures has recently raised $250 million in a fund aimed at supporting blockchain startups that create solutions in the field of money networks, financial services and Web 3.0 Internet architecture.

According to the company, Castle Island Ventures III’s investors include earmarked funds, asset managers and family offices.

The company, which was founded by two ex-employees of Fidelity Investments, Nick Carter and Matt Walsh, had previously raised $30 million and $50 million, respectively, in the first two funds.

In the new phase, Castle Island will look to lead more Serie A rounds in addition to its pre-seed investment, Walsh said.

The company’s portfolio includes projects such as Bitwise, BlockFi, ErisX, Matrixpoint and CoinMetriks, co-founded by Carter. Walsh has added:

“Now there are just more market opportunities and a wave of entrepreneurs starting projects. Our way of responding to the boom in the industry is to support more aggressive deployment of capital in some of these companies by our team.”

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