What's Cooler Than A Crypto Fund? A Second Fund Close At $110,000,000

Plus a slew of other fundraising news. Can you say 'bull market?'

Happy Monday, Blockfolians

The Lede

It was a BIG day for fundraising news today (just check out “Highly Relevant Reading”), but right at the top of the heap was the news that Electric Capital had closed a new $110m fund for Seed and Series A investments.

As if this weren’t exciting enough, CoinDesk is reporting that 90% of the fund came from institutions.

Interview with Venture Capital Firm Co-Founder and Managing ...

Electric Capital invests in companies across Layer 1 protocols, DeFi, and crypto businesses, meaning that the institutional participation suggests a broadening of what that type of LP is looking for from just beyond bitcoin.

This is good news for the crypto industry in terms of precedent as well as in terms of having more good actors capitalized and ready to deploy. Congrats!

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Highly Relevant Reading


Community Commentary

A sitting Congressman with this much knowledge about the space has to be bullish.
This is bull market talk.

A Really Big Number We Should Be Paying Attention To  

$1,000,000,000,000

That’s the (almost) aggregate total transaction volume of Ethereum since its launch exactly five years ago.


Final Thought

Seriously, this story is wild.