TechFlow News, November 3 — According to Bloomberg, citing people familiar with the matter, crypto fund Protocol Ventures LP will shut down and return cash to investors following a downturn in the digital asset market. Notifications regarding this move were sent to investors at the end of October. One of the sources said the wind-down process could be completed by year-end or in the first quarter of 2023. Protocol Ventures may have lost as much as 90% of its capital over the past year. Protocol declined to comment on the developments.
Protocol Ventures was a crypto fund focused on investing in cryptocurrency hedge funds and had previously backed firms including BlockTower Capital, Multicoin Capital, Pantera, and Electric Capital.Original link
