CoinFund Closes $158M Seed IV Fund to Back Early-Stage Web3 Ventures
In Brief
Crypto-native investment firm CoinFund has closed its $158 million CoinFund Seed IV Fund LP.
The fund exceeded its initial target fundraising goal of $125 million.
The fund will support pre-seed and seed-stage startups across the web3 ecosystem.
Crypto-focused investment firm CoinFund has announced the close of $158 million CoinFund Seed IV Fund LP which will support pre-seed and seed-stage startups across the web3 ecosystem.
According to a press release shared with Metaverse Post, the fund exceeded its initial target fundraising goal of $125 million, with backing from a combination of institutional investors, family offices, and high-net-worth individuals.
Founded in 2015 by Highbridge Capital Management and Amazon alum Jake Brukhman, and later joined by co-founder and American Capital alum Alex Felix, CoinFund is now has a global team of nearly 30 people with more than 100 investments across six investment vehicles.
The CoinFund team is heading into its ninth investment year after raising over $550 million in the last 18 months across venture and liquid investment strategies. The investment team focused on deploying this capital into seed-stage deals is led by Managing Partners Jake Brukhman (focus areas currently include decentralization technologies and infrastructure, AI x web3); Alex Felix (marketplaces, infrastructure, financial services); Seth Ginns (cross-vertical liquid investing); David Pakman (NFTs, consumer, infrastructure) and Chris Perkins (financial convergence, tokenization, CeFi.)
Commenting on today’s news, CoinFund CEO and co-founder, Jake Brukhman said:
“Our investors have shown deep confidence in our people and strategy by continuing to allocate capital to our products in a bear market. Over the last two years, we’ve built a truly institutional grade firm, the model of a large professional manager in web3. On the portfolio side, we are more bullish on the industry than ever and continue to invest in platform resources and personnel to help navigate a nascent and sometimes opaque category and support the growth of each portfolio company.”
In the past month, CoinFund has made significant investment announcements in various web3 and AI projects including Cloudburst Technologies, focusing on cyberthreat intelligence for digital currency fraud; Gensyn, a protocol for ML compute; Giza, an AI platform catering to smart contracts and web3 protocols; Neutron, a layer 1 blockchain on Cosmos; and Superstate, led by Robert Leshner, dedicated to building blockchain-based financial products.
The close of Seed IV follows the recent unveiling of CESR, the composite ether staking rate, a collaborative effort between CoinFund and CoinDesk Indices. CESR is as a dynamic global benchmark, calculated from daily transaction fees and staking rewards generated by the Ethereum Proof of Stake (PoS) blockchain. This index opens up new avenues for the development of loans, bonds, futures, swaps, and other financial instruments tied to its reference.
Through the unveiling of CESR, CoinFund demonstrates its commitment to invest in and foster the expansion and mainstream convergence of web3 technologies.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
