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Arthur Cheong's DeFiance Capital raising $100 million to invest in liquid tokens

Quick Take

  • DeFiance Capital plans to raise a $100 million fund to invest in liquid tokens, sources tell The Block.
  • Almost half of the targeted fundraise already has been completed, one source said.

DeFiance Capital, the crypto venture capital firm that recently distanced itself from bankrupt crypto hedge fund Three Arrows Capital (3AC), is in the process of raising a $100 million fund to invest in liquid tokens, three sources with direct knowledge of the matter told The Block.

The fund is called "Liquid Venture Fund," one of the sources said, adding that almost half of the targeted fundraise has been completed.

While the target raise is $100 million, the fund can get started with investing with less, two of the three sources confirmed. DeFiance Capital has received some commitments from one crypto fund of funds and a few family offices.

DeFiance Capital was founded in 2020 by Arthur Cheong, and the firm once described itself as a “sub-fund and share class of Three Arrows Capital.” After 3AC got into financial trouble in June, DeFiance Capital said in July that it is a separate firm from 3AC and operates independently.

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