1confirmation, a crypto-focused venture capital firm, said Tuesday that it has closed a new $125 million fund.
The fund will be used to invest in early-stage startups in the crypto space as well as cryptocurrencies and NFTs, per a blog post penned by 1confirmation founder Nick Tomaino.
Tomaino, who worked for Coinbase between 2013 and 2016, first raised a $26 million fund backed by investors like Mark Cuban, Marc Andreessen and Peter Thiel. In 2019, 1confirmation raised a $45 million fund.
In the Tuesday post, Tomaino said that 1confirmation now had more than $800 million in assets under management.
"We are lucky to invest in this industry and work with incredible founders everyday on behalf of a great group of LPs. This is a privilege we don’t take lightly," Tomaino wrote. "We pledge to do our small part in helping cryptocurrency reach 1B+ users over the next 5 years by continuing to support authentic teams building products at the bleeding edge of crypto."
Among 1confirmation's investments are companies like Coinbase, SuperRare and dYdX, as well cryptocurrencies such as DOT, ETH and BTC.