Electric Capital Closes $1 Billion In Funds To Back Crypto Startups!

In the coming years, the venture firm hopes to invest in startups focusing on DeFi, NFT, DAO, and blockchain infrastructure.

One billion dollars has been raised for seed investments in blockchain startups by venture capital firm Electric Capital.

Electric Capital Raises $1B to Invest in Crypto Startups.

A Tuesday report by Forbes reveals that the latest capital raise consists of a $400 million equity fund closed last year, as well as a $600 million token fund closed last month.

The Silicon Valley-based venture capital firm, co-founded by Avichal Garg and Curtis Spencer, provides early-stage funding to crypto, fintech, and blockchain startups.

As part of the new raise, Electric Capital emphasized that it has been involved in the Web3 movement. It is perfectly positioned to support and help project developers achieve the success they deserve.

“Our team has worked for the last four years building software and data systems so that we can participate in Web3 ecosystems. We want to continue to find new ways to create value together with investors and protocols,” says Spencer.

Electric Capital’s team is primarily comprised of engineers and has extensive expertise in decentralized governance, tokenomics, community building, and more. Therefore, they are better able to understand and support Electric’s portfolio companies in terms of technical matters.

“Investors in the Web3 companies require crypto-native investors who believe and understand the best support Web3 protocols and companies need during the whole inevitable crypto cycles,” Garg said.

A wide range of blockchain infrastructure projects, including NFTs, DeFi, DAOs, and blockchain infrastructure, will be targeted for the company’s equity and token investments.

Not Investing Directly in Crypto Yet

Though Electric intends to explore the NFT market, the venture capital firm stated that it is not currently planning to invest directly in digital arts. The company plans to invest in NFT platforms and other projects where investors can use digital collections as collateral.

In addition to investing in some of the biggest projects in the crypto industry, Electric Capital is developing the Ethereum-based NEAR protocol and dYdX, a derivative trading application.

The number of venture capital firms investing in the crypto space increases as the market grows. Recent announcements from Sequoia Capital include a fund of $600 million invested in liquid tokens and digital assets.

Mufasa
Mufasahttps://cryptomufasa.com
We bring you the Latest News and Updates on Bitcoin, Ethereum, Cryptocurrency & NFTs.

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