Crypto management firm Ikigai raises $30 million for web3-focused venture fund

Ikigai Asset Management, a Puerto Rico-based crypto asset management startup that deploys capital for more than 275 investors, announced Tuesday that it raised $30 million in venture funding. 

Ikigai opened up the investment pool to any of its 275 limited-partner investors. The firm intends to use the venture funding for its Ikigai Trust Revolution Opportunities fund, which is designed to invest in startups or projects related to the metaverse, blockchain gaming, non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs) and other web3 initiatives.

Another focus of the fund will be “X-to-earn” models of gaming, such as play-to-earn and move-to-earn. 

“X-to-earn is a trend in the top of the first inning that we believe can be transformative for humanity over the coming decades," Ikigai chief investment officer Travis Kling said in a statement. "We will fund and help build the projects leading to that transformation.” 

Ikigai’s newest fund joins Framework Ventures, 6th Man Ventures and other firms establishing venture funds for play-to-earn, metaverse and other web3 projects.

About Author

MK Manoylov is a reporter for The Block covering NFTs, blockchain-based gaming and cybercrime. MK holds a graduate degree from New York University's Science, Health, and Environmental Reporting Program (SHERP).