Sequoia Capital Designates $500-600 Million to Crypto Fund Focused on Liquid Digital Assets – Finance Bitcoin News

On February 17, the enterprise capital agency Sequoia Capital introduced the launch of a brand new $500 million to $600 million sub-fund devoted to “liquid tokens and digital assets.” The company famous throughout its announcement that the brand new fund highlights Sequoia’s strategic “commitment to crypto.”

Venture Firm Sequoia Capital to Launch a Fund Focused on Liquid Tokens and Digital Assets

The American enterprise capital agency headquartered in Menlo Park, California, Sequoia Capital is beginning a fund that will likely be centered on investing in crypto belongings. In a blog post dubbed “A Block Step Forward,” Sequoia says the brand new liquid token fund “complements” the agency’s ongoing crypto investing. Sequoia’s announcement additional mentioned prior partnerships with crypto movers and shakers like FTX CEO Sam Bankman-Fried and Michael Shaulov the co-founder of Fireblocks.

The enterprise capital agency additionally talked about blockchains like Ethereum, Solana, and “major” decentralized finance (defi) protocols. While investing in these applied sciences, Sequoia talked about studying an important deal alongside the best way. “Today, we are doing just that with a new $500–600M sub fund focused primarily on liquid tokens and digital assets,” the weblog submit printed on Thursday notes. Sequoia Capital continued:

Sequoia Crypto Fund enhances our broader dedication to crypto. Our aim with this fund is to take part extra actively in protocols, higher help token-only initiatives, and be taught by doing ourselves. We stay dedicated to working collaboratively with the crypto group, together with offering ongoing help for open-source analysis.

Venture capital aimed toward blockchain protocols, crypto belongings, and up-and-coming blockchain startups grew exponentially final year. In reality, general enterprise capital (VC) investments in 2021 broke data at $621 billion. Last year’s enterprise capital, funds that had been primarily centered on crypto tokens and blockchain technology companies, represented 5.28% of 2021’s mixture VC investments with $32.8 billion.

While the Sequoia Crypto Fund will deploy $500 million to $600 million towards “liquid tokens and digital assets,” Sequoia says it additionally plans to proceed partnering with crypto groups throughout the business. During the primary week of February 2022, Sequoia Capital India led the $450 million funding spherical in Polygon. Sequoia is taken into account one of many 20 top venture investors in blockchain and crypto. The California company has investments in Metastable, Polychain, Binance, Huobi, Polygon, Orchid Labs, and String Labs.

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What do you consider Sequoia Capital asserting the launch of a brand new $500 million to $600 million sub-fund devoted to cryptocurrencies? Let us know what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com News in regards to the disruptive protocols rising right this moment.




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