On March 30, Gumi Cryptos Capital (GCC), announced the blockchain-focused venture capital firm’s second fund that will invest $110 million in early-stage blockchain startups. The second fund follows GCC’s initial $21 million fund that backed seed stage founders.
Gumi Cryptos Capital Reveals Fund II — Firm Will Invest $110 Million Into early-Stage Blockchain Startups
Venture capital company that focuses on blockchain Gumi Cryptos Capital (GCC)The launch of $100 million in new fund will focus on the development of blockchain concepts such as decentralized finance (defi), gaming finance (gamefi), Web3 and other ideas created by startups at early stages of blockchain technology. In a statement sent to Bitcoin.com News, GCC’s managing partner Rui Zhang said: “Think of us as blockchain’s experienced, high-conviction, high trust, hands-on value adding, long time preference, unicorn to megacorn, builder-focused all-in venture society.”
GCC’s announcement further details that Fund II will target software engineers, decentralized autonomous organizations (DAOs), guilds, and more “at any layer at the earliest stage and is chain-agnostic.” “Fund II will invest in both equity and tokens,” the announcement explains. “GCC expects to invest between $500,000 to $5 million per project through both initial and follow-on investments.”
Venture Capital Continues to Bolster Blockchain Funds, GCC Managing Partner Says ‘There’s a Strong Appetite for Experimentation’
GCC’s Fund II follows a slew of venture capital funds announced during the last year. Cypher Capital is a United Arab Emirates-based venture capital (VC), firm. AnnouncementFund with a capital of $100 million that is focused on metaverse and defi. The crypto exchange Luno announced that the firm’s investment arm, Luno Expeditions, launchedA fund that is dedicated to fintech startups Venture capital firm Griffin Gaming Partners (GGP) AnnouncementA $750 million fund will be used to help gaming ideas that use blockchain or Web3 technology.
According to GCC, the companies in the firm’s portfolio have raised more than $1 billion since January 2020. The company’s managing partners include Hironao Kunimitsu, Miko Matsumura, and Rui Zhang. “We live in the Experimental Age,” Matsumura explains in a statement sent to Bitcoin.com News. “The existing institutions and infrastructure including social infrastructure, governance, financial services and big tech are demonstrably failing us. Because the way forward is unknown, there’s a strong appetite for experimentation.” Matsumura added:
Tokens can be used to power Web3, DAOs, and guilds. Avatars represent “personality experiments” whether backed by individuals, bots or groups. The NFTs represent experimental digital assets. A collection of experimental realities is called the metaverse.
How do you feel about the Gumi Cryptos Capital Fund II news? Please comment below to let us know your thoughts on this topic.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.