TLDR:
- Prominent venture capitalists Marc Andreessen, Galaxy Digital, and Accolade Partners have backed a new $75 million crypto fund
- The fund is focused on investing in crypto-based consumer applications
Prominent venture capitalists Marc Andreessen, Galaxy Digital, and Accolade Partners have invested in a new $75 million crypto fund launched by 1kx. Chris Dixon from Andreessen Horowitz is among the limited partners. The fund, anchored by Accolade, is targeting investments in crypto-based consumer applications. The fund has already made investments in around five companies, although specific names were not disclosed. This announcement comes at a time of growing institutional interest in crypto investments, with a recent uptick in venture capital funding for crypto startups. Several notable investments in the blockchain space have been made, including a $100 million funding round for EigenLayer by Andreessen Horowitz, and a $27 million seed funding round for Avail, led by Founder Fund and Dragonfly.
In addition, Immutable launched a $100 million fund to invest in blockchain games, with investments in seven blockchain game titles during its first close. The fund, called Inevitable Games Fund, is a partnership between Immutable, King River Capital, and Polygon Labs. Overall, the crypto space is seeing increased interest and investment from both institutional and venture capital firms, signaling confidence in the future of blockchain technology.
