gumi Cryptos Capital unveils new $110 million fund to invest in early-stage startups

Blockchain-focused venture capital firm gumi Cryptos Capital (gCC) has raised $110 million to invest in early-stage startups.

The company announced on Wednesday the launch of its second fund (Fund II), which will target projects in areas such as DeFi, gaming and DAOs, among others. 

The firm is planning to invest anywhere between $500,000 and $5 million in each new project, both in equity and tokens.


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“We’re looking for exceptional ‘gumicorn’ founders in advanced subsectors that have the potential to be sector leaders and disrupt global industries,” said gCC managing partner Rui Zhang. “Our approach for this fund will be ‘thinking ahead’.”

The firm's first fund (Fund I), which holds 36 companies in its portfolio, grew from $21 million to $516 million in asset value, gCC said in a statement. It invested in an OpenSea seed round, as well as other industry companies and projects such as Celsius Network and 1inch. 

Other companies in the firm's portfolio include DeFi yield optimizer Idle Finance, Cypto derivatives exchange Delta and trading and lending platform Vauld.

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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).