CoinFund to back early crypto startups with fresh $158 million: Bloomberg

Companies • July 18, 2023, 9:36AM EDT
The Block

Quick Take

  • CoinFund raised $158 million for a new early-stage crypto startup investment fund. 
  • The raise is 26% higher than CoinFund intended after originally aiming for $125 million.

Web3 investment firm CoinFund has raised $158 million to invest in early-stage crypto startups, Bloomberg reported. 

The raise is 26% greater than the $125 million CoinFund had intended to amass after receiving more interest than originally expected for what will be its fourth seed fund, CoinFund CEO Jake Brukhman told Bloomberg. 

The company intends to focus on startups at the intersection of crypto and AI, according to the report. 

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"Some of the more consumer stuff is a little bit in a lull, like if you look at the NFT space,” Brukhman told Bloomberg.


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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