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Crypto.com Capital Expands $200M Fund to $500M

Crypto.com Capital Expands $200M Fund to $500M

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Singapore-based Crypto.com Capital introduced right now that it’s increasing the scale of its fund to $500 million, from the $200 million it introduced in March 2021.

  • Jon Russell, its newly employed General Partner primarily based in Bangkok, informed CoinDesk the fund will do seed and series-A offers, sometimes up to a $10 million verify for the series-A.
  • So far Crypto.com’s maiden fund has invested in play-to-earn guild YGG SEA, Ledger, and Frax Finance
  • The fund might be centered on investing in DeFi, NFTs, and gaming. It will sometimes need to lead rounds.
  • Russell mentioned the fund might be centered on rising the general crypto ecosystem, not about making investments the place Crypto.com thinks it might get enterprise.
  • Companies that the fund invests in received’t essentially get listed on the Crypto.com trade, he mentioned.
  • While Crypto.com capital is increasing, administration desires to maintain the fund lean and entrepreneurial. They don’t need to grow to be “an a16z” with lots of of employees — it isn’t relatable to entrepreneurs within the crypto house that run a skinny group.
  • Although the fund is predicated in Singapore, and Russell in Bangkok, it would have a world remit.
  • In 2021, crypto companies raised $30 billion from VCs, according to PitchBook. Despite the bear market, there’s no signal of this slowing down as alongside Crypto.com Capital’s announcement FTX kicked off the 12 months establishing a $2 billion enterprise fund to put money into crypto startups.

Read More: Sino Global Capital Launches $200M Fund Backed by FTX

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