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.
“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.