Mantle Core Proposes $200M Fund for Web3 Startups

Mantle Core, a subsidiary of BitDAO, has recently proposed the creation of a $200 million fund dedicated to early-stage Web3 startups. The proposal aims to accelerate the adoption of Mantle, an Ethereum layer-2 network, among developers and Dapps. The Mantle EcoFund will be deployed within the Mantle ecosystem over the next three years, with BitDAO’s treasury providing $100 million in USD Coin (USDC), and another $100 million coming from external matching capital from strategic venture partners.

Several funds have expressed interest in participating in the Mantle EcoFund, including Dragonfly Capital, Pantera, Folius Ventures, Play Ventures Future Fund, Spartan, Lemniscap, Selini Capital, Cadenza Ventures, and QCP Capital, according to Mantle’s proposal. If approved, the EcoFund and venture partners will participate in projects with a 1:1 co-investment ratio. The ecosystem fund will target Web3 startups raising pre-seed, seed, and series A rounds.

The Mantle spokesperson has stated that “the fund targets to invest in more than 100 projects deployed on Mantle and have a multiple on invested capital (MOIC) of 1.5x of cumulative performance through the fund’s lifecycle.” Management fees for the EcoFund team, including sourcing, due diligence, legal, portfolio support, and fund administration, will be “industry standard,” with a 2% fee to support operational expenses.

The proposed Mantle EcoFund is part of a broader trend across the crypto industry, with similar initiatives seeking to drive adoption and innovation. For instance, in 2021, Polygon, an Ethereum scaling solution, launched a $100 million fund aimed at improving access to decentralized finance, onboarding users, and accelerating adoption.

In summary, the proposed Mantle EcoFund has the potential to significantly boost the development and adoption of Web3 startups by providing early-stage funding for promising projects. With the backing of BitDAO’s treasury and external venture partners, the Mantle EcoFund could become a significant player in the Web3 ecosystem, fueling innovation and growth in the years to come.

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Valkyrie Funds Introduces Crypto SMAs for Fund Managers & Advisors

Valkyrie Funds, an alternative asset management firm based in the US, announced on Tuesday the launch of a new Valkyrie Risk Managed Separately Managed Account (VSMA) platform that aims to enable financial advisors, fund managers, and other financial services providers to offer digital asset investments to their clients.

Valkyrie SMA is targeting financial advisors, family offices, and other financial institutions in hopes that it will help these financial pros manage digital assets on behalf of clients or pitch these products to their customers.

Valkyrie SMAs will initially support three active strategies such as a strategy focused on Bitcoin (BTC) alone, another strategy dedicated to investing in Bitcoin (BTC) and Ether (ETH), and another strategy focused on a more diversified option (Bitcoin (BTC), Ether (ETH), Solana (SOL), Polygon (MATIC), and Polkadot (DOT).

Valkyrie Funds Managing Director John Key commented about the development: “The SMAs will rely on Valkyrie’s research to rebalance positions for downside protection and upside exposure.”

SMA is a form of financial wrapper that allows pools of assets to be structured and sold as a single security. In this case, cryptocurrencies are wrapped into an SMA.

Unlike exchange-traded funds (ETFs) and mutual funds, where investors own shares of the fund instead of the underlying securities, the securities in an SMA are owned directly by the investor. SMAs offer customization not available with ETFs and mutual funds and thus can more closely reflect an investor’s risk tolerance, objectives, and other needs. Crypto assets held in an SMA are placed with a qualified custodian.

In Valkyrie’s case, while its SMAs’ Bitcoin and BTC/ETH accounts seek to maintain at least 50% of the portfolio in those assets, the diversified SMA aims for a minimum position of 40% in digital assets, with the remaining assets parked in cash. The three accounts each have minimum investments of $25,000 and carry a management fee of 150 basis points. Gemini is the custodian for the SMAs.

The Valkyrie SMAs will allow these financial providers to design and administer personalized crypto trading strategies for clients and manage them from a single platform.

Valkyrie is now the latest asset management firm to announce crypto SMA plans after, likes Coinbase, Ark Invest, Bitwise, and Franklin Templeton, launched their separately managed account offerings this year.

In a recent survey, almost half of all financial advisors (45%) revealed that they intend to offer crypto assets in response to client demand. Besides that, 80% of advisors disclosed being asked about digital assets by clients of all ages, but only 14% are using or recommending digital assets.

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Invesco Unveils Metaverse Fund to Tap into £1.4 Trillion Opportunity

Invesco, a US investment management firm headquartered in Atlanta, Georgia, with additional branch offices in 20 countries, announced on Monday that it has launched a new fund dedicated to metaverse-related equities.

The investment company said with the launch. It focuses on tapping into a “£1.4 trillion revenue opportunity in the metaverse landscape.

The Invesco Metaverse fund will invest in large, medium, and small-cap firms across the US, Asia, and Europe.

Invesco said the fund would pump cash into firms helping to facilitate, create, or benefit from the growth of immersive virtual worlds.

Tony Roberts, who will oversee the fund, stated that the company would look to capitalize on a swelling area of the metaverse economy.

“While the Metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education and sport. We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” Roberts elaborated.

According to Invesco, the new fund will back projects across seven major thematic areas, including next-generation operating and computer systems, networks for hyperconnectivity, hardware and devices that provide access to the Metaverse, immersive platforms developed with artificial intelligence, Blockchain, the interchange tools necessary to bring about interoperability, and services and assets that will facilitate the digitization of the real economy.

Invesco believes that businesses have exciting opportunities in all seven subsegments beyond the well-known Metaverse platforms.

Businesses Navigating Metaverse

Metaverse has presented numerous opportunities to brands and consumers alike. Whether it’s large tech players like Microsoft or small startups working to develop metaverse business landscapes, the opportunities presented by interactive, digital worlds are limitless.

The Metaverse is poised to infiltrate every sector in some way in the future, with the market opportunity estimated at over $1 trillion in annual revenues.

As a result, firms of all shapes and sizes are seen entering the Metaverse in different ways, including the likes of Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari and others.

In September last year, Facebook launched a $50 million fund that would help it develop the Metaverse more responsibly.

In April, the HBAR Foundation launched a $250 million Metaverse Fund to integrate Hedera Hashgraph’s Web3 metaverse world for consumer brands.

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Republic Capital to Raise $700m for Two Crypto-focused Funds

Investment platform Republic is raising $700 million for two cryptocurrency-focused funds, as reported by online media outlet Axios.

The funds include a $200 million flagship venture fund and a $500 million dedicated crypto fund respectively.

The venture fund will invest 20% of its capital in cryptocurrencies, while the other 80% will be invested in equity investments in web3, fintech, and deep tech.

The crypto fund in this round would focus on supporting late-stage protocols.

Currently, Republic Capital has invested in more than 100 companies since its inception in January 2019. Republic Capital led a $50 million round in Flipside Crypto, which provides blockchain analytics and business intelligence to Crypto companies, boosting its valuation tenfold to $350 million.

Republic also recently participated in a $135 million fundraising for CoinDCX, India’s largest cryptocurrency exchange

According to the company, their team has been working on raising funds for outstanding crypto projects, including DeFi protocol Ratio Finance and Solana-based money management solution Zebec.

Republic capital is also supported by companies such as Galaxy Digital, The Motley Fool, Binance, Naspers, AngelList, and has global teams in six countries.

Republic has raised a total of $214 million in 12 funding rounds. Their latest funding round was on November 12, 2021, with a Series B round led by Valor Equity Partners.

The company has also raised more than $20 million through the sale of crypto tokens. Republic has received more than $500 million in investments from more than 1 million global community members.

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Investcorp Rolls out First Institutional Blockchain Fund in the Gulf

Investcorp, a global manager of alternative investment products, has launched the first institutional blockchain fund in the Gulf Cooperation Council (GCC) aimed at propelling a blockchain-powered digital evolution.

Dubbed Lydian Lion, the blockchain fund also has a global investment mandate. It will be mainly rolled out to early-stage companies within the blockchain ecosystem in areas like data analytics, decentralized finance, platforms and exchanges, and blockchain infrastructure.

Gilbert Kamieniecky, the head of Investcorp’s technology private equity business, noted that the fund would be a stepping stone towards more innovations in the blockchain space as the digital economy continues to gear up. He acknowledged:

“We believe that blockchain technology and the ecosystem around it, will transform every facet of our economy much like the internet did in the 2000s.”

Kamieniecky added:

“We have already seen the potential of blockchain to disrupt existing markets and create new ones, such as the meteoric rise of the non-fungible tokens market that in just a few years has grown from under a billion to more than $40 billion.”

As a fast-growing technology area, Hazem Ben-Gacem believes blockchain technology should be accorded more global reach and institutional expertise. 

The Co-CEO at Investcorp added:

“Offering our clients innovative and bold investment ideas, backed by our disciplined and proven approach, has been a key element of our success over the last four decades.”

The GCC is a political and economic alliance of six Middle East nations: the United Arab Emirates (UAE), Kuwait, Oman, Saudi Arabia, Bahrain, and Qatar.

Meanwhile, a recent survey by Goldman Sachs, a leading global investment bank, noted that institutional interest in cryptocurrencies was witnessing strong growth because crypto exposure rose from 40% in 2021 to 51% in 2022. 

Furthermore, inflows into crypto investment products reached $193 million, a scenario that was last seen in mid-December 2021, according to digital asset management firm Coinshares. 

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Social Trading Company eToro Establishes $20m NFT fund

Cryptocurrency trading platform eToro has established a $20 million Non-fungible token (NFT) fund to buy NFTs and support creators and brands in the industry, according to CNBC.

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The launch of fund is part of eToro art’s plans and implies that eToro will create more services for investors and take a big step toward the NFT market.

NFT is a special type of encrypted token that represents unique collectables. An NFT is used in specific applications that require unique digital items, such as encrypted art, digital collectables, and online games.

Guy Hirsch, U.S. managing director of eToro, said that before NFTs, only big traditional financial tycoons such as Goldman Sachs could step into the cryptocurrency space; however, “NFTs are essentially making any and every potential brand a participant in this market.”

Founded in 2007, eToro has been a leader in the global Fintech revolution, empowering people to invest by giving them access to international markets. From cryptos to stocks and commodities, eToro has made trading easy and social, creating a solid community of over 12 million traders worldwide.

In the past few months alone, well-known brands in various industries, including Starbucks, Coca-Cola, McDonald’s, Nike, etc., have joined the NFT track,

Hirsch added that:

“Any brand can hone in on this and create some sort of an NFT that represents an ownership stake in part of the brand,”

As part of the eToro.art program, the trading platform showcases renowned digital art collections, including Bored Ape Yacht Club, CryptoPunks, and World of Women.

eToro said it would also commit $10 million to support emerging creators and brands, bringing their new NFT projects to market.

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South Korean Kookmin Bank to Launch the First Crypto Fund

Kookmin Bank, the largest banking financial institution in South Korea, has announced its plans to launch the nation’s first crypto fund, a move targeted at retail investors.

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According to the announcement from the bank, a Digital Asset Management Committee has been established to oversee the launch of an Exchange Traded Fund (ETF) product right after the regulatory laws in the country permit.

“We will launch a virtual asset-themed equity fund, etc., as soon as possible,” says Hong-Gom Kim, head of Kookmin Bank’s index quant management division. “We will also publish periodicals.”

In a bid to complement its planned launch of a crypto fund, the bank is also planning a move that will see it float a hybrid fund that will feature both traditional assets and cryptos. Per the announcement, the hybrid fund will be a reference point for outsourced chief investment officers to provide guarantees on their investments.

The planned move from Kookmin Bank is very pivotal in South Korea. The country is a major crypto hub in Asia with significant digital currency traction amongst both retail and institutional investors. Billed as the largest bank by total Assets Under Management (AUM) which topped 100 trillion Korea Won (approximately US$83.8 billion), according to data gleaned from the bank’s website.

With a deep customer base amongst the top stakeholders in the country, the embrace of the proposed crypto and hybrid funds is poised to gain massive traction from investors across the board.

While all hands seem on deck for the proposed Kookmin Bank products, scaling the stringent regulatory provisions is another hurdle that must be crossed. South Korea is known for its strict regulations imposed on digital currency trading platforms, most of whom were sent packing on grounds they could not secure a banking partner last year. 

With the regulatory ecosystem largely unpredictable, Kookmin bank may ride on its previous crypto custody services and broader grip on the economy to steer its way to secure the required licenses required to float the products.

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South Korean Kookmin Bank to Launch the First Crypto Fund

Kookmin Bank, the largest banking financial institution in South Korea, has announced its plans to launch the nation’s first crypto fund, a move targeted at retail investors.

KB2.jpg

According to the announcement from the bank, a Digital Asset Management Committee has been established to oversee the launch of an Exchange Traded Fund (ETF) product right after the regulatory laws in the country permit.

“We will launch a virtual asset-themed equity fund, etc., as soon as possible,” says Hong-Gom Kim, head of Kookmin Bank’s index quant management division. “We will also publish periodicals.”

In a bid to complement its planned launch of a crypto fund, the bank is also planning a move that will see it float a hybrid fund that will feature both traditional assets and cryptos. Per the announcement, the hybrid fund will be a reference point for outsourced chief investment officers to provide guarantees on their investments.

The planned move from Kookmin Bank is very pivotal in South Korea. The country is a major crypto hub in Asia with significant digital currency traction amongst both retail and institutional investors. Billed as the largest bank by total Assets Under Management (AUM) which topped 100 trillion Korea Won (approximately US$83.8 billion), according to data gleaned from the bank’s website.

With a deep customer base amongst the top stakeholders in the country, the embrace of the proposed crypto and hybrid funds is poised to gain massive traction from investors across the board.

While all hands seem on deck for the proposed Kookmin Bank products, scaling the stringent regulatory provisions is another hurdle that must be crossed. South Korea is known for its strict regulations imposed on digital currency trading platforms, most of whom were sent packing on grounds they could not secure a banking partner last year. 

With the regulatory ecosystem largely unpredictable, Kookmin bank may ride on its previous crypto custody services and broader grip on the economy to steer its way to secure the required licenses required to float the products.

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Andreessen Horowitz to Raise $4.5B for Two New Crypto Funds

Wallet Street Venture Capital firm, Andreessen Horowitz (a16Z) is rallying investors for a $4.5 billion dual fund targeted at making strategic investments in the cryptocurrency ecosystem.

According to the Financial Times, $3.5 billion is billed to be earmarked for its newest cryptocurrency enterprise fund, while $1 billion will be reserved for strategic investments in crypto startups seeking seed funding.

The Silicon Valley-based Andreessen Horowitz plan’s to secure the funding by March which will nearly double the firm’s previous crypto fund of $2.2 billion.

While Wall Street may be waking up to the potentials of the cryptocurrency industry, Andreessen Horowitz has long been backing innovations and promising startups in the emerging world. As Blockchain.News reported, the firm tapped the services of the head of the New York Stock Exchange (NYSE)’s regulatory unit, Anthony Albanese as its new chief regulatory officer while also spearheading its thriving cryptocurrency division as far back as 2020. Former Coinbase vice president of communication, Kim Milosevich, also join a16Z as the chief marketing officer.

If the firm is able to pull the funds as reported, it will be the biggest funds raised in the digital currency world, a record that is currently being held by Paradigm Capital, a joint venture between Coinbase’s Fred Erhsam, and Sequoia Capital’s Huang, which pulled $2.5 billion in funds to back startups in the fast-growing cryptocurrency ecosystem in November last year.

While the a16Z’s plans have not been made public yet, the company is well known for a related fundraiser in the ecosystem. The company pulled $2.2 billion from investors back in June last year to create the Crypto Fund III, the largest at the time.

Renowned for being one of the early investors in big multinationals such as Meta Platforms Inc (formerly Facebook Inc), Twitter, and Coinbase Global Inc, Andreessen Horowitz has also made headlines for backing projects like OpenSea, CryptoKitties, and Helium amongst others. With the metaverse and NFT related innovations taking momentum at present, the proposed $4.5 billion will surely be put to very good use.

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a16z Seeks Record-Breaking $4.5B for Crypto Funds

Key Takeaways

  • Andreessen Horowitz has announced it is seeking $4.5 billion in fresh capital for its crypto funds.
  • $3.5 billion would be allocated to its recently-launched crypto fund and $1 billion would be allocated to a new fund focusing on early-stage crypto startups.
  • If successful, a16z’s new fund would be the largest ever of its kind.




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Andreessen Horowitz (a16z) has announced plans to raise $4.5 billion for its cryptocurrency funds. The firm plans to finalize the funding by March. 

a16z Seeks to Set New Record

Prolific venture firm Andreessen Horowitz is looking to raise a record-breaking $4.5 billion for its cryptocurrency funds.

According to the Financial Times, the firm told investors last week that it sought to raise $3.5 billion for its most recent cryptocurrency venture fund and another $1 billion for a new, distinct fund that would prioritize seed investments in crypto assets startups. The firm’s plan is to secure the funding by March.



Silicon Valley-based Andreessen Horowitz invests primarily in technology companies, including investments in biotech, fintech, and cryptocurrency. Its notable early investments include Facebook, Airbnb, Twitter, Coinbase, and Stripe. The firm has invested in dozens of major cryptocurrency projects, including as Solana Labs, OpenSea, Near, and UniSwap. 

If a16z can successfully secure $4.5 billion in funding, it would be the largest cryptocurrency fund of all time, surpassing the previous record set by Paradigm’s $2.5 billion Paradigm One fund last November. Only last week, cryptocurrency exchange FTX fell short of breaking Paradigm’s crypto fund record with the launch of its $2 billion FTX Ventures. 

Furthermore, Andreessen Horowitz’s new $1 billion crypto seed investment fund would double the digital assets industry’s previous record for a fund of that sort. 


The size of this theoretical fund, while record-setting, would not be unthinkable, given the huge amounts of capital that have flowed into the space over the last year. In 2021, VC firms raised $10.7 billion for cryptocurrency-focused funds, and altogether investors put over $31 billion into crypto startups last year.

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.

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