Crypto management firm Ikigai raises $30 million for web3-focused venture fund

Ikigai Asset Management, a Puerto Rico-based crypto asset management startup that deploys capital for more than 275 investors, announced Tuesday that it raised $30 million in venture funding. 

Ikigai opened up the investment pool to any of its 275 limited-partner investors. The firm intends to use the venture funding for its Ikigai Trust Revolution Opportunities fund, which is designed to invest in startups or projects related to the metaverse, blockchain gaming, non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs) and other web3 initiatives.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Another focus of the fund will be “X-to-earn” models of gaming, such as play-to-earn and move-to-earn. 

“X-to-earn is a trend in the top of the first inning that we believe can be transformative for humanity over the coming decades," Ikigai chief investment officer Travis Kling said in a statement. "We will fund and help build the projects leading to that transformation.” 

Ikigai’s newest fund joins Framework Ventures, 6th Man Ventures and other firms establishing venture funds for play-to-earn, metaverse and other web3 projects.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.