Gumi Cryptos Reveals $110 Million Fund Targeting Early-Stage Blockchain Startups – Finance Bitcoin News

0


On March 30, Gumi Cryptos Capital (GCC), announced the blockchain-focused venture capital firm’s second fund that will invest $110 million in early-stage blockchain startups. The second fund follows GCC’s initial $21 million fund that backed seed stage founders.

Gumi Cryptos Capital Reveals Fund II — Firm Will Invest $110 Million Into early-Stage Blockchain Startups

The blockchain-focused venture capital firm Gumi Cryptos Capital (GCC) has announced the launch of a $100 million fund that will be focused on blockchain concepts like decentralized finance (defi), game finance (gamefi), Web3, and other types of ideas being created by early-stage blockchain startups. In a statement sent to Bitcoin.com News, GCC’s managing partner Rui Zhang said: “Think of us as blockchain’s experienced, high-conviction, high trust, hands-on value adding, long time preference, unicorn to megacorn, builder-focused all-in venture society.”

GCC’s announcement further details that Fund II will target software engineers, decentralized autonomous organizations (DAOs), guilds, and more “at any layer at the earliest stage and is chain-agnostic.” “Fund II will invest in both equity and tokens,” the announcement explains. “GCC expects to invest between $500,000 to $5 million per project through both initial and follow-on investments.”

Venture Capital Continues to Bolster Blockchain Funds, GCC Managing Partner Says ‘There’s a Strong Appetite for Experimentation’

GCC’s Fund II follows a slew of venture capital funds announced during the last year. Cypher Capital, a United Arab Emirates (UAE)-based venture capital (VC) firm just announced a $100 million fund focused on metaverse, defi, and gamefi concepts. The crypto exchange Luno announced that the firm’s investment arm, Luno Expeditions, launched a fund dedicated to fintech startups. Venture capital firm Griffin Gaming Partners (GGP) announced a $750 million fund to support gaming concepts that involve blockchain and Web3 ideas.

According to GCC, the companies in the firm’s portfolio have raised more than $1 billion since January 2020. The company’s managing partners include Hironao Kunimitsu, Miko Matsumura, and Rui Zhang. “We live in the Experimental Age,” Matsumura explains in a statement sent to Bitcoin.com News. “The existing institutions and infrastructure including social infrastructure, governance, financial services and big tech are demonstrably failing us. Because the way forward is unknown, there’s a strong appetite for experimentation.” Matsumura added:

Tokens represent monetary experimentation powering Web3, DAOs and guilds are governance experiments. Avatars represent “personality experiments” whether backed by individuals, bots or groups. NFTs are experimental digital assets. The metaverse is a collection of experimental realities.

Tags in this story

$110 Million, Blockchain, Blockchain Funds, Cypher Capital, DAO, DeFi, Experimental Age, Financing, Fund II, GameFi, Gaming, GCC, governance experiments, Griffin Gaming Partners, Guilds, Gumi Cryptos, Gumi Cryptos Capital, Hironao Kunimitsu, Luno Expeditions, Metaverse, Miko Matsumura, NFTs, Rui Zhang, Web3

What do you think about Gumi Cryptos Capital Fund II announcement? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It



Source link

You might also like
Leave A Reply

Your email address will not be published.