Crypto Biz: Crypto VC is back in force

Venture Capital Firms Continue To Pump Billions Into Crypto-Economy; this week saw the launch of two funds with a combined value of $500 million.

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You've no doubt heard the phrase, follow the money. Well, if you do that in the venture capital world, you'll be headed straight for crypto, blockchain and digital assets. After a modest summer lull in venture capital funding, this week saw the announcement of two massive raises worth a combined $500 million. That's $500 million that VCs are allocating to crypto-focused startups at the intersection of Web3, blockchain infrastructure, and decentralized communities.

If you think financing deals have stalled in the middle of the bear market, think again. I mentioned the “summer lull” at the start, but that doesn't mean the funding has stopped. There are so many offers, in fact, that I had to start a separate series called VC Roundup just to keep track. Data from Cointelegraph Research also shows Q2 funding deals were just as big as Q1 in dollar terms.

This week's Crypto Biz takes a look at the latest funding news from the blockchain world.

CoinFund Launches $300M Web3 Venture Fund

Venture capital firm CoinFund has launched a new investment fund dedicated to all things crypto. The new CoinFund Ventures 1 will invest $300 million in blockchain-innovating start-ups, with a focus on Web3. CoinFund raised $83 million during the bull market in 2021. Its latest deal is more than three times that amount – and it was raised in the depths of the crypto winter. This tells us that venture capitalists probably think the market has already bottomed or is in the process of doing so.

Blockchain VC Shima Capital Debuts With $200M Web3 Fund

Shima Capital, a venture capital firm founded...