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Blockchain News

CoinFund announces the creation of a new $300 million Web3 venture fund

New $300 million early-stage venture capital fund formed by CoinFund, a web3, cryptocurrency, and focused investment firm and registered investment adviser based in New York City.

Family offices, seasoned institutional investors, and crypto-native founders all support CoinFund Ventures I. The Teacher Retirement System of Texas, Adams Street Partners, StepStone Group, and Accolade Partners are examples of limited partners. Many of the Venrock Partners also remain limited partners in Ventures I, continuing their affiliation with CoinFund.

In the web3 investment market, CoinFund and its staff of more than 30 professionals are well-positioned.

With Ventures I, the company may intensify its assistance for startups who have shown early momentum as they advance through their next stage of growth and gain from the synergies and expertise of CoinFund’s larger portfolio of more than 100 exceptional teams.

David Pakman, managing partner and head of venture investing at CoinFund, stated in an interview with CoinDesk that the CoinFund Ventures I fund will invest in businesses that have demonstrated commercial traction and are also a part of the cryptocurrency industry with a sizable total addressable market. 

Layer 1 blockchains, Web 3 infrastructure, non-fungible tokens (NFT), gambling, and asset management are among the topics of interest.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.