![Multicoin Capital receives Investment from Binance](http://bitcoinworld.co.in/wp-content/uploads/2021/03/Multicoin-Capital-receives-Investment-from-Binance-1024x576.png)
Prominent crypto exchange Binance has invested an undisclosed amount in Texas-based crypto fund Multicoin Capital. The world’s leading crypto platform stated the new investment is unique. It makes Binance a limited partner in the crypto-focused hedge fund. Multicoin Capital is an Austin-based venture capital firm that funds in crypto tokens and offers investors regulated exposure to the blockchain industry. The fund had lately acquired a significant RUNE position, the native token of a decentralized cross-chain AMM.
The company came into existence in 2017, and then two years later, it raised its first funding that ended with a value of $75 million. Multicoin Capital has executed more than 20 investments in early-stage funding for startups in the blockchain and financial technology sectors. One of its essential investments was in Singapore-based crypto startup, MathWallet. Moreover, it followed Binance Labs, the incubation and seed funding arm of the world’s largest crypto exchange. Multicoin and Binance conducted the Series B funding round for MATH, the blockchain firm behind the crypto wallet, MathWallet.
Multicoin Capital to expand its operations via Binance’s Investment
With its recent investment, Binance joins investors such as Ribbit Capital, eminent Venture Capital Fund Union Square Ventures, Venture Capitalist Marc Andreessen, and former Chief Operating Officer of PayPal Holdings Inc David Sacks. Multicoin capital will utilize the fresh injection of capital to expand the fund’s operations. It involves doubling down on its headcount and new business roles. The business of crypto-focused funds has increased as crypto firms turned to venture capitalists after ICOs activities, which were once abundant, came under stress globally as regulators crack down on various projects for leading unregistered securities offerings.
Furthermore, Thorchain’s native token RUNE increased 30% in the last 24 hours following crypto investment firm Multicoin Capital announced that it had acquired a prominent position in the asset. Multicoin published a research report in which they described the potential of THORChain. The report unveiled that the investment firm is enthusiastic about trading tokens within different blockchains as a vital opportunity for traders. Additionally, Multicoin funded in decentralized music sharing service Audius in October 2020. It recently invested in Manta Network at the commencement of February.
Follow BitcoinWorld for the latest updates.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.