ParaFi Capital Raises $120 Million for Crypto Fund Investments 🚀
ParaFi Capital, a digital asset management firm based in New York, has successfully raised $120 million from various investors, including Theta Capital Management and Accolade Partners. This recent funding round, with investors such as Henry Kravis, co-founder of KKR & Co., will enable ParaFi to acquire stakes in other crypto funds, marking a new strategic direction for the firm in the crypto space.
Ben Forman, the founder of ParaFi, revealed plans to build a diverse portfolio of 30 to 50 stakes in different crypto funds over the next three to five years. This expansion comes at a time when the number of crypto funds is on the rise again, indicating ParaFi’s commitment to growth and innovation in the sector.
- ParaFi raises $120 million from investors like Theta Capital Management and Accolade Partners
- Plans to acquire stakes in other crypto funds to diversify its portfolio
- Focusing on building a portfolio of 30 to 50 stakes in the next three to five years
Lemniscap Launches $70 Million Fund for Web3 Startups 🌐
Lemniscap, a venture capital firm, recently announced the successful raising of a $70 million fund to support early-stage Web3 startups. This fund will be directed towards various blockchain-based businesses, including those involved in zero-knowledge infrastructure, consumer applications, emerging Bitcoin ecosystems, security advancements, and decentralized physical infrastructure (DePIN).
With a history of investing in over 130 projects within the Web3 space, Lemniscap aims to provide both financial support and strategic guidance to startups in its portfolio. Backed by Accolade Partners, known for its early-stage blockchain investments, Lemniscap prioritizes long-term success and blockchain innovation in its investment strategy.
- Lemniscap raises $70 million fund to support early-stage Web3 startups
- Fund directed towards blockchain-based businesses in various sectors
- Emphasis on long-term success and blockchain innovation in investment strategy
Hot Take: Innovation and Growth in the Crypto Fund Space 📈
The recent funding rounds by ParaFi Capital and Lemniscap highlight the ongoing innovation and growth in the crypto fund space. With firms like ParaFi expanding their portfolios and investing in other crypto funds, there is a clear focus on diversification and strategic investment within the industry. Similarly, Lemniscap’s support for Web3 startups underscores the importance of backing emerging technologies and pioneering founders in the blockchain space. As the crypto market continues to evolve, these investments pave the way for new opportunities and developments in the digital asset ecosystem.
By
By
By
