Venture capital company 6th Man Ventures has already raised $140 million of its $145 million target for a second crypto fund, a structure is focused on supporting startups at an early stage, The Block has reported.
The fund partners are Galaxy Vision Hill, Three Arrows Capital, Sino Global Capital, FTX Ventures, Animoca Brands and AngelList, as well as Bill Ackman, Mark Andreessen and Chris Dixon of Andreessen Horowitz, Tushar Jain and Kyle Samani of Multicoin Capital, Ben Foreman of ParaFi , Kevin Colleran and Sam Lessin of Slow Ventures and Raj Gokal of Solana.
The amount of funding for the selected projects will be $1 million-$2 million. The priority is Web 3.0, DAO and infrastructure solutions.
The fund has already given its support to 20 startups. In addition to financing, 6th Man Ventures advises on marketing, media relations, go-to-market strategy and business development.