Castle Island Ventures has launched its second venture fund with $50 million in assets. CIV II will focus on firms in the decentralised finance space, The Block.
According to one of Castle Island’s co-founders, Nick Carter, the firm will broaden its investment approach and cover more areas of the industry than the first fund.
“We have broadened our view of what we can invest in. I expected some regulatory action, but it did not materialise,” he added.
Nick Carter founded Castle Island together with a Fidelity Investments veteran Matt Walsh in 2018. Their new fund plans to invest in 20 companies.
In 2020, the average venture deal size in the crypto industry rose by 33%.
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