CoinFund Attracts $158M to Create a Cryptocurrency Fund
CoinFund, a New York-based venture capital firm, has reportedly received a $158 million investment to create a fund exclusively for digital asset investment.
The originally planned goal was to raise $125 million, with CEO Jake Brukhman revealing that around 90 percent of the firm’s transactions are related to digital assets.
The fund is being used to facilitate early stage crypto and AI projects, as well as funding toward tokens, with the executives of CoinFund believing that the industry is still capable of connecting to traditional markets in a regulated manner.
Despite an “exceptionally difficult” year in 2022, the organization raised more than $550 million. CoinFund has already launched four venture funds, which have been used to finance companies such as Dapper Labs, a Non-Fungible Token (NFT) company, and Blockdaemon, an infrastructure startup.
Additionally, in May, the TON blockchain team created a $250 million venture fund to finance DeFi projects. Dispersion Capital later established a $40 million investment vehicle focused on Web3 infrastructure.
