Another day, another $ 125 million of web3 venture financing

Another day, another $ 125 million of web3 venture financing

The crypto venture capital company North Island Ventures In the early phase, despite market uncertainty and excess capital for aspiring projects, $ 125 million for crypto and web3 protocols will provide.

The NIV Fund II of North Island will lead between $ 250,000 and $ 3 million for up to 40 projects in the early stages, said the company in A ​​statement on Tuesday.

The company's latest fund follows its former North Island Ventures Fund, which invested in the Blockchain development platform Axelar and the crypto payment provider BCB Group.

The entire managed assets in the books of the two-year-old company with headquarters in New York amounts to around $ 300 million, it said.

"In 2020 we introduced NIV based on our conviction that Krypto is the next big key technology," said Travis Scher, co -founder of NIV, in the explanation. "The industry has developed enormously since then."

This year a number of risk capital companies have set up exorbitant funds that amount to hundreds of millions, similar to North Island rationalized its capital allocations.

based on the fashion investments of past epochs, companies are now very relying on the next iteration of the Internet.

at the end of the last month, Seven Seven Six, a risk capital company geared to digital assets under the direction of Redits co-founder, has launched a fund of $ 177 million that aims at web3 startups.

The early phase investment company Konvoy Ventures also presented a multimillion dollar fund for aspiring gambling companies in July, which focuses on a number of crypto vertical, including web3.

While private and institutional investors remain careful after the collapse of Terra and the bankruptcy crops crypto loan, capital remains available to those who build through a bear market-especially if the ratings have reached the lowest level for years.

The biggest deals so far this year come from VC increases. An increase of $ 1.1 billion through the Trade Republic based in Germany, an increase of $ 550 million due to the Fireblocks based in the USA, an increase of $ 400 million due to the Bahamas based FTX and an increase of $ 450 million by consensics have stacked the numbers.

recent investigations by the auditing company "Big Four". KPMG this year has dropped to just over $ 14 billion and thus led behind the investment rate in 2021, which is $ 32.1 billion.

Nevertheless, the total investment in space travel until the middle of the year remained well over all years before 2021, as the data show.

. .

The contribution Another Day, Another $ 125 million in Web3 Venture Funding is not a financial advice.