Tribe Capital to launch a $75 million fund for crypto startups

Known for investments in DCG, FTX and Kraken, Tribe Capital will launch a $75 million venture fund. Three quarters of the funds will go to startups in the United States, the remaining 25% to startups in other regions of the world.

Venture Capital firm @TribeCapital1 is planning to launch a $75 million crypto fund, with 75 percent invested in U.S. projects and 25 percent invested internationally. @FloatingPointGroup announced A $10 million Series A funding round that included Tribe Capital.

— TuoniaoX.com (@tuoniaoX) October 16, 2021

According to sources cited by CoinDesk, Tribe Capital initially planned to raise $50 million. Strong investor interest allowed raising the target to be increased.

The structure will focus on participating in SAFT, buying tokens of early-stage projects, yield farming, and mining.

In September, during a Series A round, the fund invested $10 million in Floating Point Group. The company offers custody services and algorithmic trading of assets.

Paradigm will create a venture fund sized between $1.25 billion and $1.5 billion to finance cryptocurrency startups.

In June, Andreessen Horowitz launched its third crypto fund with $2.2 billion in assets to invest in companies at all stages of development—from seed to late-stage.

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