TechFlow news, on August 28, according to Cointelegraph, venture capital firm Lemniscap announced it has raised $70 million to support early-stage Web3 startups. The fund will invest across multiple blockchain sectors, including zero-knowledge proof infrastructure, consumer applications, emerging Bitcoin ecosystems, security, and decentralized physical infrastructure (DePIN).
Since its founding in 2017, Lemniscap has invested in over 130 Web3 projects, including prominent protocols such as Avalanche, Fairblock, and Celestia. The firm emphasizes long-term success over short-term gains, providing both funding and strategic guidance to its portfolio startups.
According to Pitchbook data, cryptocurrency startups raised $2.7 billion in Q2 2024. The total funding for the year is projected to reach $10.8 billion, surpassing the $10.1 billion raised in 2023. Despite a 12.5% decline in the number of deals, investors are increasing their investment sizes in high-potential projects.
