CoinFund launches $83 million venture fund, mandate includes DeFi, NFTs

CoinFund — a cryptocurrency investment firm that's backed the likes of Dapper Labs and Rarible — announced Tuesday the close of its third fund to further pour capital into the DeFi and NFT markets. 

The new venture capital fund, which raised $83 million in fresh capital from investors like Venrock, enters the world as private crypto markets heat up.

Excluding’s $9.7 billion injections into Bullish Global  —  there was roughly $6.2 billion in private investment, or approximately a 90% increase in venture funding quarter over quarter, as noted by The Block Research. 

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Founded in 2015 by Jake Brukhman, CoinFund has invested in dozens of companies and projects, including DeFi projects like Serum and Paraswap and Layer-1 networks such as Near Protocol and Polkadot. The new fund will have a similar mandate:

"We are routinely evaluating where the puck is going, what verticals are next and questioning our assumptions. The process works well and we’ve been positioned early in the most exciting areas of the space, from base layers to DeFi and NFTs. Our core focus areas are DeFi, NFTs, infrastructure services, middleware, asset tokenization and beneficiaries of stablecoin adoption. We also recently added interest in decentralized autonomous organization (DAO) infrastructure to the list."

Listen to our podcast episode with CoinFund's head of portfolio growth Vanessa Grellet. 

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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].