Multicoin Capital has launched a new venture fund valued at $430 million, further demonstrating venture capital’s growing interest in the blockchain economy.
Multicoin’s Venture Fund III will invest between $500,000 and $25 million in earlystage companies across various crypto and blockchain focused industries. It’s also willing to invest values of up to $100 million or greater for later stage projects with an established brand and market presence.
Venture Fund III will place greater emphasis on crypto projects that have demonstrated proof of physical work, or protocols that have created economic incentives for permissionless contribution.
The company also highlighted data decentralized autonomous organizations, also known as data DAOs, are offering strong incentives for user participation. As reported, Multicoin Capital was a key investor in the data DAO project Delphia, which closed a $60 million Series A funding round in June.
As investors brace for more short-term pain in the cryptocurrency markets, venture firms continue to add to their portfolios. In the first quarter alone, $14.6 billion in venture funding flowed into crypto and blockchain startups, according to Research.
