Key takeaways:
- Venture capital firm Standard Crypto has raised $500 million for its new cryptocurrency fund, according to Axios
- Standard Crypto has roughly $1.5 billion in assets under management, according to a source cited by Axios
- The investment firm has made several investments in promising cryptocurrency startups, including NFT-focused Yuga Labs and leading Ethereum Layer 2 scaling Solution Polygon
Standard Crypto raises $500 million in new capital to invest in “equity and crypto”
Cryptocurrency investment firm Standard Crypto has raised $500 million for its new investment vehicle called Standard Crypto Venture Fund I. According to a report from Axios, which cited a source familiar with the matter, the new fund will pursue investments in both equity and crypto.
Standard Crypto was established in 2019 and has since been investing in a range of blockchain and technology companies in the gaming, financial infrastructure, and social networks space.
The company has also pursued a variety of Web3 investments, including in DAOs and DeFi. Case in point, Standard Crypto participated in the $450 million Seed Round of the leading NFT company Yuga Labs in March 2022, and in Polygon’s $450 million Venture Round that concluded in February 2022, to name just a few.
According to a source cited in the original report, the investments across a range of crypto startup companies over the years have seen Standard Crypto’s assets under management (AUM) grow to roughly $1.5 billion.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.
