CoinFund, a blockchain-focused investment firm founded in 2015 with the goal of shaping the global transition to digital assets, announced the closing of its third venture capital fund with an $83 million oversubscribed fundraise. The raise was backed by Venrock partners as well as a number of forward-thinking institutional allocators and leading crypto founders who support CoinFund’s technical approach and commercial vision.
“Investor interest in our latest fund demonstrates the strong demand for full stack problem solvers at the infancy stage of these blockchain and decentralization projects”
“CoinFund’s deep connectivity throughout the entire crypto ecosystem, the firm’s critical technical insights and its ability to incubate projects at the earliest stages differentiates them from other investors in the space,” said David Pakman, Partner, Venrock. “The repeatability of their investment process confirms the value of these characteristics. We are proud to continue to partner with CoinFund and look forward to more mutual success from investing in, and building, the crypto industry.”
“Investor interest in our latest fund demonstrates the strong demand for full stack problem solvers at the infancy stage of these blockchain and decentralization projects,” said Jake Brukhman, founder and CEO of CoinFund. “This raise will enable us to continue to grow our own team of problem solvers and innovators. Our unique talent strengthens the value we provide entrepreneurs through deep technical acumen, a founder-centric approach, and a six-year expertise that comes from being fully immersed in the space.”
The raise marks an active start to 2021 for CoinFund. Since launch in March, CoinFund has led or co-led 8 deals across infrastructure, middleware, decentralized finance, NFTs and Web 3.0 verticals.
“This vintage is particularly focused on the early stages of mainstream adoption where the technology is poised to create bigger market opportunities,” said Chief Investment Officer, Alex Felix. “Blockchain-based networks will be distributed to billions of people globally through digital wallets. We’ve consistently positioned early in three core areas: verticals with early traction, the technology innovations that come next and the infrastructure on which they are built.”
CoinFund and its partners, who bring 30 years of collective blockchain investing expertise, have been early backers of many of the early standouts in the crypto sector including Ethereum, Coinbase, Polkadot, Dapper Labs, Balancer Labs, Zapper, Filecoin, Dfinity, Rarible, Maker, Decentraland, 0x Protocol, Serum, Livepeer, Blockdaemon, Republic, The Graph and Coinlist, among others.
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“As a Co-Founder, CoinFund brings a novel combination of assets to the table that goes well beyond monetary support,” said Tegan Kline, Initial team behind The Graph. “They seamlessly demonstrate the ability to collaborate and problem-solve on virtually every aspect of our growth, from connecting with key stakeholders in the industry to providing expert strategic advice. I could not ask for a more committed and versatile partner to accompany us on our journey to decentralize the Internet.”
“As institutional investors continue to enter the digital asset space, CoinFund’s deep experience in both traditional finance and crypto builds on the trust that has made Blockdaemon the leading independent blockchain infrastructure platform for more than 25 million registered users,” said Cecily Mak, Chief Operating Officer at Blockdaemon. “We’re thrilled to have CoinFund’s strategic guidance as we build critical infrastructure to simplify and secure the blockchain landscape for financial institutions of all sizes.”
