Despite the slow second quarter, VC dollars return to Crypto
Despite the slow second quarter, VC dollars return to Crypto
- MultiCoin Capital announced that it has secured $ 430 million for crypto startups
- The risk capital company LightSpeed cooperates with Faction to invest in blockchain infrastructure projects in the early phase
Open investment projects went back by 24.2 % from April to May this year and 28 % compared to the same month of the previous year, a Dove Metrics Report indicates. But despite the bear market conditions, risk capital providers no longer seem to hold back.
The crypto investment company Multicoin Capital, which supported several web3 and decentralized financial projects-including Ethereum, FTX and Dune Analytics-announced today that they will be in another $ 430 million in crypto startups.
The company based in Texas closed a 100 million dollar fund in May last year and focused on investments in projects that build on the Solana blockchain. This most recent third financing round was announced shortly after Multicoin led the $ 60 million series A from Dao Delphia and in April the $ 18 million series A from a decentralized mapping network HIVEMAPPER.
MultiCoin is currently focusing on investments in the NFT industry, infrastructure, emission tools and stock exchanges, Tushar Jain, managing partner at Multicoin Capital, told Blockworks.
"Our evaluation for each project depends on three important variables that are important to us: the first is the market size, the second the margins or the value creation and the third party the risk of execution," said Jain.
Also traditional investment companies try to build their crypto portfolios.
Lightspeed, a multi-stage risk capital company in the corporate, consumer and health sector, said that in cooperation with the Blockchain venture fund faction, she would invest in blockchain infrastructure projects in the early phase. Sam Harrison, co -founder of Blockchain.com, and Banafseh Fathieh, who previously was the investment manager at Prosus Ventures, currently lead the fund.
The company collected a total of $ 7.1 billion over four funds, including three funds based in the USA and the latest, which focuses on India and Southeast Asia.
"Lightspeed has been investing in Blockchain for over 8 years. We see this as a computing paradigm change that is larger than the ebb and flood of the short-term Bitcoin price," a spokesman for Lightspeed told Blockworks.
"We double, especially in the areas of infrastructure, defi and new application cases."
Despite the blockchain freedom At the time it is another winning machine for gambling companies, such as Bloomberg, continues to flow A considerable amount of money into the industry.
The Australian game software company Animoca Brands based in Hong Kong announced additional financing of $ 75.3 million. This money is the second part of a series C of $ 360 million that the company raised in January under the direction of Liberty City Ventures investors.
The crypto fund and incubation laboratory protagonist also put on his first $ 100 million fund to support the development of protocols in the early phase, with special focus on gaming, infrastructure and emerging blockchain markets, said George Bousis, the co-founder of the protagonist, opposite block works.
"In bear markets and from financial crises you can see some of the best companies and returns. We believe that the real builders and investors in the markets we identify will be successful here," said Bousis.
bring the best crypto and findings of the day into your inbox every evening. .
The contribution despite the slow Q2, VC dollars come back to Crypto is not financial advice.