Crypto fund Electric Capital raised $ 110 million, of which 90% – from institutional investors
Crypto venture capital firm Electric Capital raised $ 110 million for its second fund. 90% of all assets were provided by institutional investors, writes CoinDesk.
“Early adopters, forward-thinking investors are now pretty much off the ground. Now everyone looks at these guys and says: “Maybe it’s time for us too?” – said Avichal Garg, co-founder of Electric Capital..
Several unnamed university funds have joined the new fund, which Garg said could herald an increase in the cryptocurrency space of traditional investors. He argues that institutional investors are attracted to cryptocurrencies by the current situation in the macroeconomic space, in particular, an increase in monetary emission during the March collapse of markets..
The Electric Capital fund will invest in equity, tokens and two models at once. The amount of investment in the project will be from $ 1 million to $ 10 million. Startups that collect seed funding or conduct a Series A round will be able to receive investments..
Investments from the new fund have already been channeled into the DerivaDEX project through equity participation, Celo and NEAR tokens, as well as liquid assets such as Bitcoin, Ethereum and Maker. The company will continue to work with first-level protocols, projects from the field of decentralized finance and entrepreneurs using cryptocurrencies in their activities..
The company’s first fund had $ 35 million under management. Today, Electric Capital’s portfolio includes projects such as Anchorage, Bison Trails, Bitwise, Coda, Elrond and Mobilecoin..
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