Cooinfund looking for promising web3 companies for a $ 300 million increase
Cooinfund looking for promising web3 companies for a $ 300 million increase
- "Our goal with this fund is to put together a mixed portfolio," said Pakman
- Layer-1S, Defi, NFTS, Gaming and Web3 infrastructures, according to Pakman, are only a handful of promising investment areas
The cryptocurrency investment company Coinfund has raised $ 300 million for its latest fund: a vehicle in the style of risk capital that wants to focus on web3-oriented startups in the early phase.
Although Coinfund has been investing in web3 startups in the Seed phase since 2015, Managing Partner David Pakmann said that the latest fund targets to support companies afterwards.
"Seed financing closes betting on teams and a thesis, and the risk fund makes investments in companies that show a certain traction-where there are indications that things work and we believe that there could be great results," said Pakman. "Our strategy is to invest in some of our existing portfolio companies as well as in new companies that we missed or that we have never had the opportunity to get to know the team. Our goal is to put together a mixed portfolio with this fund."
As a generalist for digital assets, Coinfund does not focus on a certain area of Web3, but Pakman said that the team had identified promising sectors.
"Layer-1S, Defi [Decentralized Finance] NFTS [Non-fungable tokens] games, web3 infrastructures-such as stable coins and payments, asset management and exchanges as well as crypto money exchanges on the ramp-are all promising today," he said.
If the ecosystem matures, Pakman believes that new areas will be created in which investments can be made. Instead of building centralized computer architectures, developers could concentrate on building networks and protocols in which users and developers can share the ownership of the infrastructure - and their growing squad of tangential applications.
"The task of this risk fund would be to determine the teams who want to build great things that overlap with adoption," said Pakman.
Nevertheless, Pakman said that it was not enough to be thematically precisely as an investor.
"You must be right with the time of adoption," he said. "If you put on Cloud Computing and KI [Artificial Intelligence] in 1998 you would not have been successful, but if you rely on cloud computing in 2008, you would be very successful."
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The article Coinfund on the lookout for promising web3 company after $ 300m Raise is not a financial advice.