Electric Capital collects $ 1 billion to start crypto venture and tokens finds

Electric Capital collects $ 1 billion to start crypto venture and tokens finds

The crypto venture capital company Electric Capital has applied $ 1 billion, its largest fundraising to use capital for web3, NFT and defi projects.

"The web3 economy that builds on the programmable stack of money will be one of the decisive disorders of the 2020s," said Avichal Garg, founder and managing partner of Electric Capital. tweeted Tuesday.

The high sum of $ 1 billion is intended for two funds: a $ 400-million venture fund and a $ 600 million token fund. The new vehicles are the third or fourth fund of the company.

The second fund from Electric Capital was $ 110 million in August 2020. At that time it was planned to concentrate on investments in start-up capital, crypto tokens and hybrids from both.

The company will concentrate on five key trends within the new funds: DAOS, NFTS (not fungible tokens), defi (decentralized finances), decentralized infrastructure and accessibility in web3, which will determine this decade, said Garg. The capital is invested in $ 1 million to $ 25 million for companies and token-capable networks.

The company is brought to a larger field in a larger field in addition to risk capital in the room with large crypto funds such as Andreessen Horowitz, Paradigm and 10t Holdings.

Since prominent companies use large funds, risk capital providers and investors do not seem to show any signs of slowing down. Last month, billions flowed from dollars to crypto, including a remarkable amount by Luna Foundation Guard with his private token sales of $ 1 billion.

"We believe that crypto enables a parallel, programmable financial system," wrote Electric Capital in A Post . "Now a new economy is developing at the top of the programmable money stack-Defi enables permission-free access and innovation, NFTS are digital native assets, Daos create a way for communities to assign resources, decentralized infrastructure offers alternatives to centralized tools and more."

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The contribution Electric Capital collects $ 1 billion for the start of Crypto Venture, Token Funds, is not financial advice.