Cryptocurrency investment firm Multicoin Capital has announced the launch of $430 million Venture Fund III to help startups focusing on decentralized autonomous organizations (DAOs), open finance, and Web3 infrastructure.
In this round of funding, the firm said Venture Fund III would invest between $500,000 and $25 million in early-stage blockchain projects or companies, adding that it may invest up to 100 million US dollars or more in supporting mature projects with potential market influence in the future.
Samani, managing partner at Multicoin Capital, commented on the latest move and said, “We are continuing to invest at a fairly rapid pace, issuing, on average, probably one term sheet per week or more for a long time like over a year… We invest across market cycles, we find assets that we think are very exciting and we buy them and then hold them forever.”
Founded in 2017, Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets.
Multicoin Capital is the lead investor in data DAO project Delphia, which closed a $60 million Series A in June.
In May, Crypto Valley Venture Capital (CV VC), a Switzerland-headquartered private venture capital company, announced that it has launched African Blockchain Early-Stage Fund, which targets blockchain startups from across the continent.
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Source: https://blockchain.news/news/multicoin-capital-injects-430m-venture-fund-iii-for-blockchain-startups