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Multicoin Capital launches $ 100M fund to invest in DeFi and NFT

Venture capital firm Multicoin Capital has launched the $ 100 million Venture Fund II, targeting multiple sectors, including DeFi and non-fungible tokens (NFT).

In the DeFi sector, the fund is targeting applications based on the Solana blockchain. Multicoin Capital has previously invested in this ecosystem.

Among NFTs, the company considers the most promising social and collection tokens, as well as projects on the Metaverse platform.

Venture Fund II also invests in blockchain content distribution platforms, gaming and other Web 3.0 applications. Among other things, the fund will support infrastructure projects in the crypto industry.

The company’s first fund has invested in over 30 projects including Solana, The Graph, Audius, Helium and Arweave. Kyle Samani, managing partner of Multicoin Capital, did not specify the amount of funds invested.

Recall that in March, Binance invested in a cryptocurrency hedge fund Multicoin Capital. Terms of the deal were not disclosed.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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