The Palo Alto-based venture firm Electric Capital has raised $110 million from major investors to launch its second fund.
We are pleased to announce our $110M Seed and Series A Fund! https://t.co/s9wr48k45K
— Electric Capital (@ElectricCapital) August 3, 2020
The Palo Alto-based firm previously invested in notable DeFi projects such as the non-custodial exchange dYdX and the Maker protocol, as well as asset manager Bitwise. The firm has also invested in several popular cryptocurrencies, including Bitcoin and Ethereum.
Electric Capital investment portfolio. Source: The Block
Representatives of Electric Capital noted that during the Series A round funds from institutional investors were raised, among whom there are university [simple_tooltip content=\’endowment funds of nonprofit organizations\’]эндаументы[/simple_tooltip].
The firm intends to invest in promising ‘layer-one’ protocols and DeFi projects. Electric Capital will also focus on companies aiming to ‘build a bridge between the fintech sector and the world of cryptocurrencies’.
As noted, Pantera Capital’s well-known crypto fund has delivered over 15,000% over seven years.
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