6th Man Ventures is raising $145 million for a second crypto fund

Quick Take

  • The venture capital firm co-founded by Mike Dudas has already made over 100 investments.
  • Its second $145 million fund will write checks of up to $4 million for early stage crypto firms, with the average being $1-2 million.

Mike Dudas of 6th Man Ventures has amassed the bulk of $145 million from a who’s who of big name crypto investors for his second venture fund.

6th Man Ventures, a venture capital firm co-founded by Dudas and StayTuned Digital CEO Serge Kassardjian, is the final stages of closing the $145 million raise, Dudas said in an interview with The Block. They have already collected $140 million.

Limited partners for the fund include Galaxy Vision Hill, Three Arrows Capital, Sino Global Capital, FTX Ventures, Animoca Brands and AngelList. They are joined by a bevy of individual investors including billionaire Bill Ackman, Marc Andreessen and Chris Dixon of Andreessen Horowitz, Tushar Jain and Kyle Samani of Multicoin Capital, ParaFi’s Ben Forman, Kevin Colleran and Sam Lessin of Slow Ventures, and Solana’s Raj Gokal.

Dudas founded The Block in 2018 before departing last year to join stablecoin firm Paxos. He transitioned to an advisory role at Paxos in February. Dudas also co-founded LinksDAO