Robot Ventures, a U.S.-based venture capital firm specializing in early-stage cryptocurrency projects, has successfully raised $75 million for its latest crypto fund. This new fund marks the firm’s fourth venture and is nearly three times larger than its previous funds.
The fund has attracted significant backing from industry leaders, including TrueBridge Capital Partners and Andreessen Horowitz, a prominent investor in the cryptocurrency space. Robot Ventures’ portfolio features high-profile projects such as Lido Finance (LDO), Optimism (OP), and LayerZero (ZRO).
General Partner Tarun Chitra notes that the substantial increase from their previous $22 million fund reflects a growing interest in cryptocurrency from institutional investors. However, the new fund’s size is smaller compared to recent raises by other firms, such as Hack VC’s $150 million fund and Paradigm’s $850 million announcement. Lemniscap also recently raised $70 million for web3 startups.
The crypto venture capital landscape has shown a notable uptick in interest following a significant downturn during the 2022 bear market. According to crypto.news, the sector recorded $2.7 billion in venture capital deals in Q2 2024.
Current venture capital interest is focused on several promising sectors, including real-world assets, zero-knowledge proofs, decentralized infrastructure, and artificial intelligence. Notably, Robot Ventures recently participated in a $4 million funding round for zkMe, a project aiming to develop a zero-knowledge credential layer for web3, with Multicoin Capital leading and OKX Ventures also involved.
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