2 years ago
Brandy covers crypto-related task superior deals for CoinDesk.
Volt Capital, a crypto task superior steadfast focused connected early-stage investments, has raised $50 cardinal for its 2nd money from a database of manufacture heavyweights.
The money volition proceed Volt’s thesis of backing infrastructure, decentralized concern (DeFi), non-fungible token (NFT) and decentralized autonomous enactment (DAO) projects, Volt laminitis Soona Amhaz told CoinDesk successful an interview.
Volt Capital began arsenic a founding subordinate of crypto accelerator programme DeFi Alliance earlier launching a $10 cardinal concern money successful April 2021. Backers for the caller money see Andreessen Horowitz (a16z) wide partners Marc Andreessen and Chris Dixon, angel capitalist Elad Gil, Union Square Ventures managing spouse Albert Wenger, planetary concern steadfast Tiger Global and European hedge money manager Brevan Howard.
The larger money gives Volt much country to prosecute investments, said Amhaz, though the steadfast volition stay focused connected the pre-seed, effect and Series A rounds that are sometimes overlooked by larger funds.
“What we’re investing successful thematically are founders who are reimagining systems and the rails that we usage to bash mundane activities,” said Amhaz, who utilized payments, online authentication and video games arsenic illustration industries that crypto tin disrupt.
The money quality comes arsenic crypto markets crook cold. A16z has a price-innovation cycle thesis that said precocious crypto prices bring successful interest, portion downturns supply a clip for developer and startup fruition. Earlier Wednesday, the VC elephantine announced a $4.5 cardinal crypto fund, its fourth.
“I deliberation it’s a phenomenal clip to beryllium investing,” Amhaz said. “This is the nonstop close clip to beryllium doubling down.”
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Brandy covers crypto-related task superior deals for CoinDesk.
Brandy covers crypto-related task superior deals for CoinDesk.
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