Despite the current slump in the crypto market, Multicoin Capital is still going strong and has raised a $430 million fund.
Venture Fund III and Multicoin have announced a new fund with capital for early-stage, later-stage projects. Early-stage projects can expect between $500,000 to $25 million from Venture Fund III and Multicoin’s evergreen liquid fund, which has assets in the single digits billions. Later-stage projects are eligible for up to 100 million in capital from Venture Fund III and Multicoin’s evergreen liquid fund.
Projects may receive greater sums of capital in certain cases. Kyle Samani – a Managing Partner of Multicoin Capital – says that the $25 million figure is not set in stone and may be modified on a case-by-case basis.
More About Multicoin Capital
The firm was founded in 2017 and has historically invested in technology and infrastructure related investments. In 2019, Multicoin Capital led a $3.5 million seed-funding round with Intel Capital for dfuse’s line of products geared towards blockchain data.
The firm is now looking to invest more in projects that directly face consumers. Their goal is to reshape markets around the world.
Multicoin is confident that the recent market downturn won’t affect the company’s investments for long.
Kyle added, “We have been investing rapidly for the past year and will continue to do so. We invest across market cycles, buy assets that we find exciting, and hold them forever.”
The Venture Fund III announcement comes days after Multicoin was named in a class-action lawsuit and accused of illegally profiting from Solana’s SOL token.
