Web3 VC firm CoinFund eyes $250 million for seed investments

Quick Take

  • CoinFund, a New York-based web3 investment firm, is looking to raise $250 million to invest in seed-stage startups.
  • In August, the firm announced a $300 million fund backed by institutional investors including the Teacher Retirement System of Texas. 

CoinFund, a New York-based web3 investment firm, is looking to raise $250 million to invest in seed-stage startups just three months after announcing its previous fund. CoinDesk first reported the news.

The company's Cayman Islands-domiciled funds are looking to raise $130 million and $20 million, while its Delaware-incorporated vehicle is seeking $100 million, according to three separate filings on Monday. The documents indicate that the sales have yet to occur, meaning that the funds are at a very early stage. 

CoinFund did not immediately respond to a request for comment from The Block.

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The firm announced a $300 million fund in August backed by institutional investors including the Teacher Retirement System of Texas, Adams Street Partners and StepStone Group. 

Previously, CoinFund has backed the Layer 1 blockchain Solana, web3 indexing protocol The Graph and blockchain infrastructure company Blockdaemon, among other startups. More recently, it's participated in developer platform Hyperlane's $18.5 million round and crypto investment app Solvo's $3.5 million round. 


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About Author

Tom is a deals reporter at The Block covering venture capital, fundraises, fintech and M&A. Before joining, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. You can reach him by email at [email protected] or Telegram @tommatsuda.

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