This fund complements their existing $50 million Venture Fund I. Targeting family offices and high-net-worth individuals, it offers diversified investment opportunities in early-stage crypto ventures, backed by Mirana, FJ Labs, and Serafund.
The fund plans yearly investments in approximately five new crypto investment managers and funds, rather than direct project funding.
The strategy focuses on emerging managers in the crypto space, with about 30% of the fund already deployed. Investments include stakes in Syncracy Capital, Escape Velocity, Alliance, OrangeDAO, and Everyrealm, with co-investments alongside prominent firms like Bain Capital Ventures and individuals like Marc Andreessen.
The crypto Fund of Funds market, while currently small, is seen by David Gan, founder of Inception Capital, as having significant growth potential, potentially attracting institutional funds in the near future.