TechFlow news — According to documents filed with the U.S. Securities and Exchange Commission, Web3 venture capital firm Electric Capital plans to raise $300 million for a new fund, named Electric Capital Venture Fund III. The fund will offer interests in a pooled investment vehicle as securities. The initial sale has not yet occurred, and Electric does not intend for this offering to continue beyond one year.
Electric Capital, based in Palo Alto, California, was founded in 2018 by Curtis Spencer and Avichal Garg. In 2020, the firm raised $110 million for its second venture fund. In March 2022, Electric Capital secured $1 billion in venture funding to invest in early-stage crypto startups.
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