TLDR:
- Meltem Demirors, former CoinShares CSO, is seeking to raise $75 million for two new venture funds.
- The two funds, Crucible Capital Fund I and Crucible Capital Fund 1-A, aim to raise $45 million and $30 million respectively.
Article Summary:
Meltem Demirors, known for her role as CoinShares CSO, is now looking to raise a total of $75 million for two new venture funds. The funds, named Crucible Capital Fund I and Crucible Capital Fund 1-A, are detailed in filings with the Securities and Exchange Commission. Demirors is listed as the Managing Member of the General Partner for both funds. After serving as CSO at CoinShares from May 2018 to January 2024, she is now seeking to venture into the world of crypto funding with these new funds.
The venture capital landscape in the crypto industry has been on the rise, with 759 funding deals exceeding $3.2 billion in the second quarter of 2024 according to The Block Research. While there was an increase in the number of deals for Early Stage, Pre-Seed, Seed, and Pre-Series A raises, there was a decrease in total investment for early-stage companies, dropping from $1 billion in the first quarter to $828 million in the second quarter of 2024.
This move by Demirors reflects the growing interest and activity in venture funding within the crypto sector. As the digital asset ecosystem continues to evolve, the establishment of new funds like Crucible Capital Fund I and Crucible Capital Fund 1-A could provide additional resources and opportunities for budding projects and startups in the industry.
