CoinFund launches $83 million venture fund, mandate includes DeFi, NFTs
July 20, 2021, 9:30AM EDT
1 min read
CoinFund — a cryptocurrency investment firm that's backed the likes of Dapper Labs and Rarible — announced Tuesday the close of its third fund to further pour capital into the DeFi and NFT markets.
The new venture capital fund, which raised $83 million in fresh capital from investors like Venrock, enters the world as private crypto markets heat up.
Excluding Block.one’s $9.7 billion injections into Bullish Global — there was roughly $6.2 billion in private investment, or approximately a 90% increase in venture funding quarter over quarter, as noted by The Block Research.
Founded in 2015 by Jake Brukhman, CoinFund has invested in dozens of companies and projects, including DeFi projects like Serum and Paraswap and Layer-1 networks such as Near Protocol and Polkadot. The new fund will have a similar mandate:
"We are routinely evaluating where the puck is going, what verticals are next and questioning our assumptions. The process works well and we’ve been positioned early in the most exciting areas of the space, from base layers to DeFi and NFTs. Our core focus areas are DeFi, NFTs, infrastructure services, middleware, asset tokenization and beneficiaries of stablecoin adoption. We also recently added interest in decentralized autonomous organization (DAO) infrastructure to the list."
Listen to our podcast episode with CoinFund's head of portfolio growth Vanessa Grellet.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.