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Blockchain investment firm Coinfund has raised $83 Million for its third Crypto Venture Fund
The Blockchain based investment firm Coinfund announced on 20th July the close of its third crypto venture fund which raised $83 million. The raise was backed up by investor’s like Venrock, a California based venture capital firm and other well known institutional investors.
Coinfund is an investment firm which was founded in 2015 by CEO Jake Brukhman. The Blockchain investment firm was launched with a motive to shape the global transition to digital assets and DeFi. Coinfund invests in venture and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and their key enabling infrastructure.
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In an interview with Business Insider, the CEO said, “Today more than 50% of our capital comes from institutional investors”. Coinfund’s first funding venture in 2015 focussed beyond Bitcoin, the second venture fund in 2018 paid more attention to Decentralised apps and with a huge capital for the third fund, it is speculated that the investment firm will focus on more crypto adoption to meet the users needs.
Coinfund has previously invested in a lot of projects like Polkadot and other DeFi projects. The firm has always focused on DeFi, NFTs, asset tokenization, adoption of Stablecoins, infrastructure for new Blockchain technology and Middleware.
Jake Brukhman was pleased with the funds that flowed in and said, “This raise will enable us to continue to grow our own team of problem solvers and innovators. Our unique talent strengthens the value we provide entrepreneurs through deep technical acumen, a founder-centric approach, and a six-year expertise that comes from being fully immersed in the space.”
Even with the crypto sphere facing a massive volatility issue, china’s concerns about mining and the prices of crypto significantly falling, the institutional investors didn’t back down and have given generously in the third crypto venture fund for Coinfund.