The investment firm 10T Holdings, led by Dan Tapiero, filed an application with the SEC to launch a third fund focused on investments in crypto startups at the mid- and late-stage development. Assets under management of the vehicle are set to reach $500 million.
Together, assets under management for 10T DAE Fund 3.0 and the previously launched 10T Fund and 10T DAE Expansion Fund total $770 million, according to the firm’s data.
10T Holdings has invested in projects such as Kraken, eToro, Ledger, Figure, Gemini, Bitfury and Huobi. Twelve of the fourteen portfolio companies have reached unicorn status.
Among the investors in the funds are billionaire Alan Howard and the Michigan Public Employees Pension Fund.
As previously reported, Pantera Capital raised $600 million for a new crypto fund.
Earlier, Paradigm and Andreessen Horowitz formed structures worth $2.5 billion and $2.2 billion respectively.
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