VC Firm CoinFund Raises $158 Million to Back Crypto Startups

Global venture capital investments in crypto startups has fallen for five consecutive quarters data show, but some venture capitalists are still betting millions on blockchain. VC firm CoinFund has raised $158 million to back early-stage crypto startups, the firm plans to announce Tuesday.

The new fund is larger than the one CoinFund initially set out to raise, said Chief Executive Officer Jake Brukhman. The New York-based firm had initially aimed for $125 million, but received more interest than expected, he said.

Jake Brukhman, Cofounder and CEO of CoinFund (L) and Alex Felix, Cofounder and CIO of CoinFund (R)

Source: CoinFund

The last year and a half in the crypto industry has been marked by calamity: The demise of the TerraUSD stablecoin, the collapse of ...