CoinFund to launch $250 million fund for Web3 investments

The New York-based investment firm CoinFund intends to raise $250 million across three seed funds focused on Web3 projects. The information comes from the SEC website.

In August, the company raised $300 million for CoinFund Ventures I Fund to support early-stage startups. The fund’s areas of focus include Layer 1 blockchains, Web3 infrastructure, NFTs, gaming, and asset management.

Founded in 2015, the firm previously invested in Bitcoin and a number of DeFi projects at the seed stage. The company’s portfolio includes the NBA Top Shot developer Dapper Labs, the infrastructure blockchain platform Blockdaemon, and the data-indexing protocol The Graph.

Venture investments in crypto startups declined by 31% from April to June, according to PitchBook.

Meanwhile, investment in the industry in the first half of the year exceeded $30 billion, according to Messari and Dove Metrics.

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