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$100 million fund founded by ex-Binance execs comes out of stealth

Former executives from crypto exchange Binance have revealed a $100 million fund focused on blockchain investments. The fund, named Old Fashion Research, was founded in late 2021 by former Binance VP of M&A Ling Zhang and Wayne Fu, previously Binance head of corporate development, according to a statement on Thursday. While at Binance, Zhang led the exchange’s acquisitions and investments into FTX, Multicoin Capital and CertiK among others.  Although since its founding the fund has largely operated in stealth, it …

Standard Crypto raises new $500 million fund: Axios

Venture capital firm Standard Crypto has raised a new $500 million fund, according to a report from Axios. Axios cites a source familiar with the process. The fund will “invest in both equity and crypto,” according to the report. In an interview on The Scoop podcast earlier this year, co-founder Alok Vasudev discussed like non-fungible tokens and decentralized autonomous organizations (DAOs) as areas of interest for VC firms like Standard Crypto. “We’ve always likened ourselves as entrepreneur followers rather than …

Valkyrie launches new trust holding proof-of-stake tokens

Issuer Valkyrie Investments has launched another crypto-focused trust in its family of funds, with this offering focused on proof-of-stake tokens. The Valkyrie Multi-Coin Trust (VMCT) invests in blockchain networks and tokens that launched after the creation of Bitcoin and Ethereum in addition to Layer 1 and 2 Solutions.  “The Trust is unique in that it allocates to a broad universe of protocols and also returns staking yield to investors, and it was created in response to demand from family offices, …

Grayscale launches fund holding Ethereum alternatives

Grayscale has launched a new fund providing exposure to a variety of smart contract ecosystems that have emerged amid the growth of decentralized finance (DeFi). The Grayscale Smart Contract Platform ex Ethereum Fund (GSCPxE) holds Cardano (ADA), Solana (SOL), Avalanche (AVAX), Polkadot (DOT), Polygon (MATIC), Algorand (ALGO) and Stellar (XLM) as of March 16. The idea, according to Grayscale CEO Michael Sonnenshein, is to enable investors to have stake in a variety of developing platforms rather than betting on one …

Dragonfly Capital is raising $500 million for new venture capital fund

Dragonfly Capital, a crypto-focused venture capital firm, is raising $500 million for a new fund, according to a filing submitted with the Securities and Exchange Commission.  The new fund, dubbed Dragonfly Ventures III Feeder, will join a number of newly launched investment vehicles in the space, including Paradigm’s $2.5 billion venture fund and crypto exchange FTX’s newly launched fund.  Dragonfly had also launched a $225 million fund in March of 2021 that was focused on non-fungible token (NFT), Ethereum Layer …

Blockchain dev platform Alchemy unveils venture arm

Blockchain infrastructure company Alchemy is launching an investment arm for the development of Web3. The newly-announced Alchemy Ventures is partnered with a number of Alchemy’s investors. Projects the fund invests in will also have access to A16z, Pantera Capital, Coatue, Addition Ventures, CB Insights, and The Chainsmokers among others.  The fund plans to invest more than capital. It will also provide upstart Web3 builders with access to the fund’s strategic partners and Alchemy itself, founders dinners for networking, Alchemy’s recruiting …

Brazil’s BTG Pactual launches new fund with ETH exposure

BTG Pactual has launched a new multimarket fund with exposure to ether (ETH), the Brazilian investment bank announced today.  The fund, called BTG Pactual Reference Ethereum 20, has 20% exposure to ETH, the native cryptocurrency of the Ethereum network, and 80% to fixed income. It requires a minimum investment of 100 Brazilian reais ($17.74) and a 0.5% annual administration fee.  BTG Pactual Reference Ethereum 20 joins two other bitcoin-focused funds the bank launched earlier this year—BTG Pactual Reference Bitcoin 20 …