TLDR:
- VC firm 1kx has raised $75 million in funding from investors such as Marc Andreessen, Galaxy Digital, and Accolade Partners to support crypto-focused consumer apps.
- The fund will focus on investments in projects related to digital assets and blockchain technology.
Venture capitalist firm 1kx has secured $75 million in new funding with major backing from investors like Marc Andreessen, Galaxy Digital, and Accolade Partners. The funding round, which also includes Andreessen Horowitz partner Chris Dixon as a limited partner, aims to support crypto-focused consumer apps, according to statements shared by 1kx founding partner Lasse Clausen. The fund’s investments will focus on digital assets and blockchain technology, with an emphasis on consumer applications. The funding comes at a time of heightened institutional interest in the digital assets sector, marked by the recent approval of spot Bitcoin exchange-traded funds in the US. With VC funding for crypto initiatives on the rise, including a recent jump to nearly $2 billion in the final quarter of 2023, the industry is showing signs of growth and expansion. The launch of new funds such as 1kx’s latest round highlights the continued development and maturation of the digital assets space, bolstered by key regulatory developments and technical upgrades in the blockchain ecosystem.
