Gumi Cryptos Reveals $110 Million Fund Targeting Early-Stage Blockchain Startups

- Advertisement -

Gumi Cryptos Reveals $110 Million Fund Targeting Early-Stage Blockchain Startups – Gumi Cryptos Capital (GCC), a blockchain-focused venture capital firm, announced the launch of its second fund on March 30, which will invest $110 million in early-stage blockchain firms. The second fund is a follow-up to GCC’s first $21 million fund, which sponsored seed stage entrepreneurs.

Gumi Cryptos Capital (GCC), a blockchain-focused venture capital firm, has announced the formation of a $100 million fund focused on blockchain concepts such as game finance (gamefi), decentralized finance (defi), Web3, as well as other types of ideas being developed by early-stage blockchain firms.

“Think of us as blockchain’s experienced, high trust, high-conviction, hands-on value contributing, unicorn to megacorn, long time preference, builder-focused all-in venture society,” GCC managing partner Rui Zhang said in a statement.

- Advertisement -

Also Read: Wisdomtree Launches 3 Crypto ETPs Offering Exposure to Solana, Cardano, Polkadot

Fund II will target software developers, decentralized autonomous organizations (DAOs), guilds, and much more “at any layer at the early stage and is chain-agnostic,” according to GCC’s release.

According to the statement, “Fund II will invest in both equities and tokens.” “Through both initial and follow-on investments, GCC aims to contribute between $500,000 and $5 million per project.”

GCC’s Fund II is the latest in a long line of venture capital funds that have been announced in the recent year. Cypher Capital, a venture capital (VC) firm based in the United Arab Emirates (UAE), recently announced a $100 million fund focused on metaverse, gamefi, and defi projects. Luno Expeditions, the investing arm of the crypto exchange Luno, has launched a fund targeted to fintech entrepreneurs.

Griffin Gaming Partners (GGP), a venture capital firm, has established a $750 million fund to support gaming innovations involving blockchain and Web3 technologies.

Since January 2020, the companies in GCC’s portfolio reportedly raised more than $1 billion. Rui Zhang,  Hironao Kunimitsu, and Miko Matsumura are among the company’s managing partners.

Also Read: Central Bank of Sudan Warns of Risks Associated With Cryptocurrency

Matsumura adds, “We live in the Experimental Age.” “We can see how existing institutions and infrastructure, such as social infrastructure, financial services, governance, and big tech, are failing us.”

Because the path forward is unknown, there is a great desire to try new things.”

Don't miss

Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program

Bank of Spain to Launch Experimental Wholesale CBDC Digital...

Elon Musk Says Twitter Will Delete 1.5 Billion Dormant Accounts

Elon Musk Says Twitter Will Delete 1.5 Billion Dormant...

Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions

Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners...

Trevor Noah Bids Farewell to ‘The Daily Show’ in Emotional Final Episode Sign-Off

Trevor Noah Bids Farewell to 'The Daily Show' in...

‘Top Gun: Maverick’ Named Best Film of 2022 by National Board of Review

'Top Gun: Maverick' Named Best Film of 2022 by...

LEAVE A REPLY

Please enter your comment!
Please enter your name here