On February 17, the financial backing company Sequoia Capital revealed the launch of a brand-new $500 million to $600 million sub-fund committed to “liquid tokens and digital assets.” The firm kept in mind throughout its statement that the brand-new fund highlights Sequoia’s calculated “commitment to crypto.”
Venture Firm Sequoia Capital to Launch a Fund Focused on Liquid Tokens and also Digital Assets
The American financial backing company headquartered in Menlo Park, California, Sequoia Capital is beginning a fund that will certainly be focused on buying crypto assets. In a post referred to as “A Block Step Forward,” Sequoia claims the brand-new liquid token fund “complements” the company’s recurring crypto investing. Sequoia’s statement additionally talked about prior collaborations with crypto lobbyists like FTX CHIEF EXECUTIVE OFFICER Sam Bankman-Fried and also Michael Shaulov the founder of Fireblocks.
The financial backing company additionally pointed out blockchains like Ethereum, Solana, and also “major” decentralized finance (defi) procedures. While buying these innovations, Sequoia pointed out finding out a large amount in the process. “Today, we are doing just that with a new $500–600M sub fund focused primarily on liquid tokens and digital assets,” the post released on Thursday notes. Sequoia Capital proceeded:
Sequoia Crypto Fund matches our wider dedication to crypto. Our objective with this fund is to get involved even more proactively in procedures, far better assistance token-only jobs, and also discover by doing ourselves. We continue to be dedicated to functioning collaboratively with the crypto area, consisting of supplying recurring assistance for open-source study.
Venture capital targeted at blockchain procedures, crypto assets, and also promising blockchain start-ups expanded significantly in 2015. In reality, general financial backing (VC) financial investments in 2021 exceeded at $621 billion. Last year’s financial backing, funds that were largely focused on crypto symbols and also blockchain modern technology organizations, stood for 5.28% of 2021’s accumulated VC financial investments with $32.8 billion.
While the Sequoia Crypto Fund will certainly release $500 million to $600 million towards “liquid tokens and digital assets,” Sequoia claims it additionally prepares to proceed partnering with crypto groups throughout the market. During the very first week of February 2022, Sequoia Capital India led the $450 million financial investment round in Polygon. Sequoia is taken into consideration among the 20 leading endeavor capitalists in blockchain and also crypto. The California firm has financial investments in Metastable, Polychain, Binance, Huobi, Polygon, Orchid Labs, and also String Labs.
What do you think of Sequoia Capital introducing the launch of a brand-new $500 million to $600 million sub-fund committed to cryptocurrencies? Let us recognize what you think of this topic in the remarks area listed below.
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