Multicoin Capital launches $430M venture fund
Will invest in Web3 projects
Multicoin Capital, the crypto venture capital giant known for investing in crypto and blockchain companies, announced its third and largest $430 million fund yesterday.
The fund will provide capital for early-stage and later-stage projects focused on data-aggregating decentralized autonomous organizations (DAOs), open finance, Web3 infrastructure and consumer social opportunities, and other initiatives.
Notably, Venture Fund III will primarily invest in Web3 projects that have demonstrated “proof of physical work” or protocols that have created economic incentives for permissionless contribution.
“While the vast majority of crypto-innovation has been focused on coordinating digital communities and economies, tokens also create opportunities for innovation in capital formation and human coordination that extend beyond the digital world and into the physical,” Multicoin wrote.
Early-stage projects are eligible to receive anywhere between $500,000 to $25 million from Venture Fund III and Multicoin’s evergreen liquid fund, while later-stage projects can expect up to $100 million.
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