CoinFund Closes on $83 Million Blockchain Focused Fund

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CoinFund says it has closed on its 3rd VC fund in an oversubscribed offering that raised $83 million, according to a note from the company. CoinFund stated that the raise was backed by Venrock partners as well as a number of other institutional investors and crypto founders who support CoinFund’s approach and vision.

CoinFund is a blockchain-focused investment firm founded in 2015 with the goal of shaping the global transition to digital assets and DeFi. CoinFund reports that since March, CoinFund has led or co-led 8 deals across infrastructure, middleware, decentralized finance, NFTs, and Web 3.0 verticals.

Jake Brukhman, founder and CEO of CoinFund, said that investor interest remains strong:

“This raise will enable us to continue to grow our own team of problem solvers and innovators. Our unique talent strengthens the value we provide entrepreneurs through deep technical acumen, a founder-centric approach, and a six-year expertise that comes from being fully immersed in the space.”

David Pakman, Partner at Venrock, said the repeatability of CoinFund’s investment process confirms the value:

“We are proud to continue to partner with CoinFund and look forward to more mutual success from investing in, and building, the crypto industry.”

CoinFund and its partners have been early backers of many industry standouts including Ethereum, Coinbase, Polkadot, Dapper Labs, Balancer Labs, Zapper, Filecoin, Dfinity, Rarible, Maker, Decentraland, 0x Protocol, Serum, Livepeer, Blockdaemon, Republic, The Graph and Coinlist, among others.

“As institutional investors continue to enter the digital asset space, CoinFund’s deep experience in both traditional finance and crypto builds on the trust that has made Blockdaemon the leading independent blockchain infrastructure platform for more than 25 million registered users,” said Cecily Mak, Chief Operating Officer at Blockdaemon. “We’re thrilled to have CoinFund’s strategic guidance as we build critical infrastructure to simplify and secure the blockchain landscape for financial institutions of all sizes.”