ICYMI: Crypto VC Electric Capital raises $1 billion in new funding
Crypto-focused venture capital firm Electric Capital has raised $1 billion in new funding — a massive capital infusion that will be used to continue investing in crypto startups.
The firm looks to invest in various projects, including web3 infrastructure, DeFi protocols, and platforms powered by NFTs and DAOs. The average check size will be between $1 million and $20 million, and both equity and tokens deals will be sought, the firmElectric Capital says it is an engineering-focused VC, meaning it uses software and data systems to support projects it invests in.
Electric Capital was founded in 2018 by Spencer and Avichal Garg, and to date, it has invested in projects including Bitwise, dYdX, Gitcoin, Immunefi, NEAR, and Syndicate. The firm last raised $110 million in August 2020.
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