On March 30, Gumi Cryptos Capital (GCC), introduced the blockchain-focused enterprise capital agency’s second fund that may make investments $110 million in early-stage blockchain startups. The second fund follows GCC’s preliminary $21 million fund that backed seed stage founders.
Gumi Cryptos Capital Reveals Fund II — Agency Will Make investments $110 Million Into early-Stage Blockchain Startups
The blockchain-focused enterprise capital agency Gumi Cryptos Capital (GCC) has introduced the launch of a $100 million fund that shall be targeted on blockchain ideas like decentralized finance (defi), recreation finance (gamefi), Web3, and different kinds of concepts being created by early-stage blockchain startups. In a press release despatched to Bitcoin.com News, GCC’s managing accomplice Rui Zhang stated: “Consider us as blockchain’s skilled, high-conviction, excessive belief, hands-on worth including, very long time choice, unicorn to megacorn, builder-focused all-in enterprise society.”
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GCC’s announcement additional particulars that Fund II will goal software program engineers, decentralized autonomous organizations (DAOs), guilds, and extra “at any layer on the earliest stage and is chain-agnostic.” “Fund II will put money into each fairness and tokens,” the announcement explains. “GCC expects to take a position between $500,000 to $5 million per undertaking by means of each preliminary and follow-on investments.”
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GCC’s Fund II follows a slew of enterprise capital funds introduced over the last yr. Cypher Capital, a United Arab Emirates (UAE)-based enterprise capital (VC) agency simply introduced a $100 million fund targeted on metaverse, defi, and gamefi ideas. The crypto alternate Luno introduced that the agency’s funding arm, Luno Expeditions, launched a fund devoted to fintech startups. Enterprise capital agency Griffin Gaming Companions (GGP) introduced a $750 million fund to help gaming ideas that contain blockchain and Web3 concepts.