Venture financing of $300 million and $200 million, respectively, for two new investment funds from CoinFund and Shima Capital, has been disclosed. CoinFund Ventures I unveiled on Thursday will support blockchain firms, including current portfolios and new startup teams. The Ventures I Team According to the statement, David Pakman, a CoinFund partner and member of the boards of Dapper Labs and Rarible, will serve as the fund’s managing partner. Shima Capital, a venture capital company by Wall Street veteran Yida Gao, has launched a new fund concentrating on pre-seed and seed-stage investments. Shima Capital was founded in 2021 by Gao, who previously co-founded the crypto hedge fund Divergence Digital Currency. Gao said in an interview, “Launching the fund in the bear market is great,” “It’s good for our limited partners because the valuations have come down, and the dollar goes farther and farther.” Decrease In Crypto Spending In the first half of 2022, venture capital spending in the cryptocurrency industry decreased by 26% from the same period in 2017. Despite this, the volume of deals grew, suggesting a trend to earlier, smaller investment rounds. Andreessen Horowitz revealed in May that its new cryptocurrency fund had raised US$4.5 billion. While closing a recent fundraising round totaling over US$7 billion in July, Lightspeed Venture Partners introduced a new division focused on investing in blockchain infrastructure Ligh...
Tether Treasury Mints $1 Billion in $USDT
