Venture firm 1confirmation launched a $125 million fund to invest in early-stage cryptocurrency startups, as well as standalone digital assets and non-fungible tokens (NFTs).
Introducing 1confirmation fund III 😍 https://t.co/83oakibLUb
— 1confirmation (@1confirmation) May 25, 2021
According to founder Nick Tomaino, assets under management at 1confirmation surpassed $800 million.
“We’ve been fortunate to invest in this sector and work daily with incredible founders. It is a privilege that we do not take lightly. We are committed to doing our part to grow the cryptocurrency community to more than 1 billion users within five years,” said Tomaino.
In 2017, 1confirmation raised $26 million for its first fund from billionaire Mark Cuban, Runa Capital, Thiel Capital and Real Ventures. Its portfolio included projects such as bloXroute, Coinbase, Commonwealth, dYdX, Forte, Harbor, OpenSea, Tendermint and Veil.
In 2019, the firm opened its second fund with $45 million.
In March 2021, 1confirmation led a funding round NFT marketplace SuperRare for $9 million.
Earlier in May, investment firm Multicoin Capital launched Venture Fund II with assets of $100 million. It targets several sectors, including decentralized finance and NFT.