Venture firm Digital Transformation Capital Partners (DTCP) announced the creation of its third fund with $300 million in assets. According to the press release, the vehicle will focus on investments in fintech, Web3, and other promising areas.
Among backers of the fund are SoftBank and Deutsche Telekom. DTCP had previously been part of Deutsche Telekom’s venture arm. It was later spun off into an independent firm.
The aim of GE III is to back around 25 relatively mature projects. For each of them, investments are planned during Series B and D rounds ranging from $20 million to $25 million.
Total assets under management by DTCP amount to $2.3 billion. Its investment portfolio includes more than 70 projects, including Auth0, Fastly and Guardicore.
In June, SoftBank supported InfStones, a blockchain-infrastructure provider, in a $66 million round, and in August — the IP-protection-focused startup MarqVision. Earlier SoftBank invested in the smart-contract auditor CertiK in a $60 million round.
Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.