Media: Standard Crypto to raise $500 million for new crypto fund

Venture firm Standard Crypto is set to raise $500 million for a new cryptocurrency fund. Axios reports this, citing sources.

As of now, the amount raised has approached the target. It was initially expected to raise $150 million.

Standard Crypto Venture Fund I will focus on investments in tokens and equity stakes in early-stage startups.

The firm’s areas of interest include gaming, social platforms, financial infrastructure, NFTs and ДАО.

Standard Crypto was founded in 2019 by former Benchmark partner Alok Vasudev and Lightspeed Venture Partners’ Adam Goldberg.

Thanks to early investments in Aave, Gauntlet, Matrixport, Yuga Labs, OpenSea and Sommelier, the firm’s assets under management reached approximately $1.5 billion.

Earlier, Andreessen Horowitz запустила a $600 million fund with a focus on “gaming infrastructure and metaverse technologies.”

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