After having invested a lot of money into support of web3 and decentralized finance projects in the past, Multicoin Capital, the crypto investment firm, announces that it has set aside an additional $430 million fund to invest in the industry’s growth.
Spending more time on things that can reshape consumer-facing markets
For the past 5 years, Multicoin Capital has invested in the crypto industry. With the space continually evolving and growing, they are setting aside more money to push the narrative by now focusing on things that directly face consumers and that are poised to reshape massive consumer-facing markets. Following this narrative, the firm has just recently announced that it is putting aside a $430 million fund to invest in early-stage and later-stage opportunities in the space.
“Today we are excited to announce our latest venture fund, Venture Fund III, a $430M fund that invests $500K-$25M in early-stage opportunities all the way up to $100M+ for later-stage projects when combined with our evergreen liquid fund.” The firm announced
Founded in May 2017, Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies. They manage a hedge fund and a venture fund, investing across both public and private markets.
With the belief that crypto is the first inherently global market class, the firm has positioned itself to provide value in the industry by building teams around the world. As a crypto-native fund, the firm also participates in networks via staking, keeper operations, liquidations, and more. They are familiar with the crypto market structure and the tech landscape and are active investors.
In the firm’s announcement, they highlighted the types of projects that they are interested in focusing on. The fund will be targeted at projects under proof of physical work, dataDAOs, creator monetization, consumer products, new business models for collaborating on IP, web infrastructure, DAO tooling, and even the tech sector in India.
The firm said of investing in consumer products: “We have invested in a few consumer social products that we haven’t announced yet, but that we expect to be flag bearers of the industry in terms of UX and show the world how to build world-class crypto-native consumer experiences.”
The firm says it has been one of the earliest investors in the web3 space since 2018 as it invested in Livepeer and The Graph. The firm stated that “We continue to invest in core Web3 infrastructure with more recent investments such as Ceramic and Fluence, as well as a few more we have yet to share.”