TechFlow reported on November 14 that, according to Fortune, early-stage cryptocurrency investment fund Portal Ventures is nearing the close of its second fund, targeting $75 million and oversubscribed to $90 million. The fund has attracted investments from Chris Dixon and Marc Andreessen of a16z, Henry Kravis of KKR, and several managing directors from Insight Partners.
Founded by Evan Fisher, a former Goldman Sachs and Insight Partners employee, Portal Ventures focuses on providing initial funding to cryptocurrency startups. Its first fund of $40 million was raised in early 2022 and primarily invested during the 2023 bear market. The entire fund has now been fully deployed, with returns expected to be distributed starting next year.
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