Multicoin Capital launches $100 million fund for DeFi and NFT investments

Venture capital firm Multicoin Capital launched Venture Fund II with $100 million in assets. It is focused on several sectors, including DeFi and non-fungible tokens (NFTs).

In the DeFi space, the fund targets applications built on the Solana blockchain. Previously, Multicoin Capital had already invested in this ecosystem.

Among NFT, the firm regards social and collectible tokens as the most promising, as well as projects on the Metaverse platform.

Venture Fund II also invests in blockchain platforms for content distribution, gaming and other Web 3.0 applications. In addition, the fund will back infrastructure projects for the crypto industry.

The company’s first fund invested in more than 30 projects, including Solana, The Graph, Audius, Helium and Arweave. Multicoin Capital’s managing partner Kyle Samani did not disclose the amount invested.

Earlier in March Binance invested in the cryptocurrency hedge fund Multicoin Capital. The terms of the deal were not disclosed.

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