TLDR:
- 1kx has oversubscribed its new $75 million crypto fund with backing from prominent figures in the venture capital and crypto management sectors.
- The fund is expected to focus on crypto consumer applications, building on 1kx’s track record of supporting projects centered around infrastructure solutions and decentralized finance.
Venture capital veterans, including Marc Andreessen from a16z and Michael Novogratz’s Galaxy Digital, have joined forces to support 1kx’s new $75 million crypto fund aimed at backing projects in the crypto consumer apps sector. The fund, oversubscribed, has attracted investors like Accolade Partners, although the extent of their stake is undisclosed. 1kx, with a history of supporting projects in infrastructure solutions and decentralized finance, is expected to focus on ventures in the crypto consumer applications space with this new fund. The fund’s founders, Christopher Heymann and Lasse Clausen, established 1kx in 2017, positioning it as a venture capital firm providing strategic early-stage investments in blockchain and crypto projects. In addition to financial backing, 1kx is known to offer strategic guidance and networking opportunities to its portfolio companies.
