TechFlow news — According to filings submitted to the U.S. SEC, cryptocurrency venture capital firm CoinFund is seeking to raise $250 million for its new seed fund, CoinFund Seed IV. The new fund is divided into three parts: two based in the Cayman Islands and one in Delaware, a structure typically used for legal and tax purposes. The Cayman funds aim to raise $130 million and $20 million respectively, while the Delaware fund targets $100 million. The fund has not yet opened to investors.
CoinFund, founded in 2015, initially focused on seed-stage investments in Bitcoin and DeFi projects, and has backed companies including Dapper Labs—the creator of NBA Top Shot—blockchain infrastructure provider Blockdaemon, and data indexing protocol The Graph.
As previously reported, in August this year, CoinFund launched its investment fund CoinFund Ventures I, committing $300 million to early-stage companies in Web3, cryptocurrencies, and other blockchain sub-industries. The new fund is backed by institutional investors, family offices, and crypto entrepreneurs. Original link
