Known for its investments in DCG, FTX and Kgakeup, Tribe Capital will launch a $75 million venture capital fund. Three-quarters of the funds will go to US startups, with the remaining 25% coming from other parts of the world.
Venture Capital firm @TribeCapital1 is planning to launch a $75 million crypto fund, with 75 percent invested in U.S. projects and 25 percent invested internationally. @FloatingPointGroup announced A $10 million Series A funding round that included Tribe Capital.
According to CoinDesk's sources, Tribe Capital had originally planned to raise $50 million. High investor interest has raised that bar.
The entity will focus on participation in SAFT, early-stage project token purchases, income farming and mining.
In September, the fund invested $10m in Floating Point Group in a Series A funding round. The company offers custody and algorithmic asset trading services.
Recall that investment firm Paradigm will create a $1.25bn to $1.5bn venture capital fund to fund cryptocurrency start-ups.
In June, Andreessen Horowitz launched a third cryptocurrency fund with $2.2 billion in assets to invest in companies at all stages of development, from pre-seed to late-stage.