Crypto and blockchain venture capital firm Castle Island Ventures has raised $250 million for a new fund that will invest in blockchain startups and Web3 projects.
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According to a blog post, the fund, dubbed 'Castle Island Ventures III, will focus on three big areas that have gained the firm's interest: monetary networks, financial services, and internet architecture.
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Castle Island Ventures aims to help create a “more programmable and transparent, less politicized, exclusionary, and intermediated” financial system and will back entrepreneurs building projects that are “restoring the internet to the distributed ambitions.”
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“The new fund will support our mission to partner with visionary entrepreneurs building transformative companies powered by public blockchains,” the firm said. “We believe that public blockchains represent a paradigm shift in the way we interact with money, financial services, and the internet itself.”
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In the past, Castle Island has invested in well-known crypto startups and ventures, including MoonPay, Bitwise, BlockFi, CoinMetrics, Mash, and River Financial.
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