Robotic Ventures, an early-stage enterprise capital investor centered on initiatives within the cryptocurrency area, has raised $75 million for a brand new crypto fund.
The fund is the U.S.-based crypto VC agency’s fourth fund, Bloomberg reported on Aug. 30.
Robotic Ventures, whose portfolio embrace Lido Finance (LDO), Optimism (OP) and LayerZero (ZRO), attracted business heavyweights for the fund. These embrace TrueBridge Capital Companions and Andreessen Horowitz, the latter being among the many prime buyers in crypto initiatives.
Fund greater than earlier ones
The $75 million fund is sort of 3 times greater in comparison with Robotic Ventures’ earlier funds. In response to the VC platform’s common companion Tarun Chitra, the bounce from $22 million to the newest elevate comes amid rising curiosity in crypto from institutional buyers.
However whereas notable, the agency’s elevate is decrease than the $150 million fund Hack VC raised in February and the $850 million that crypto enterprise capital big Paradigm introduced in June. On Aug. 28, crypto VC agency Lemniscap introduced a $70 million fund for web3 startups.
The general image is that the crypto VC panorama has seen a good spike in curiosity following an enormous drop after the 2022 bear market. As crypto.information reported, the sector noticed a complete of $2.7 billion in enterprise capital offers within the second quarter of 2024.
What crypto sectors are seeing large VC curiosity?
Some latest enterprise capital raises throughout the crypto market have prompt a recent outlook.
Key sectors embrace real-world belongings initiatives, zero-knowledge proofs, decentralized bodily infrastructure networks, and synthetic intelligence. The decentralized finance market, capital markets, and Bitcoin economic system ecosystem are additionally notable sectors.
In considered one of its newest investments, Robotic Ventures backed the $4 million spherical for zkMe, a challenge seeking to construct a zero-knowledge credential layer for web3. Multicoin Capital led the strategic funding spherical, with OKX Ventures additionally taking part.
