THELOGICALINDIAN - On February 17 the adventure basic close Sequoia Basic appear the barrage of a new 500 actor to 600 actor subfund committed to aqueous tokens and agenda assets The aggregation acclaimed during its advertisement that the new armamentarium highlights Sequoias cardinal charge to crypto
Venture Firm Sequoia Capital to Launch a Fund Focused on Liquid Tokens and Digital Assets
The American adventure basic close headquartered in Menlo Park, California, Sequoia Basic is starting a armamentarium that will be focused on advance in crypto assets. In a blog post dubbed “A Block Step Forward,” Sequoia says the new aqueous badge armamentarium “complements” the firm’s advancing crypto investing. Sequoia’s advertisement added discussed above-mentioned partnerships with crypto movers and shakers like FTX CEO Sam Bankman-Fried and Michael Shaulov the co-founder of Fireblocks.
The adventure basic close additionally mentioned blockchains like Ethereum, Solana, and “major” decentralized accounts (defi) protocols. While advance in these technologies, Sequoia mentioned acquirements a abundant accord forth the way. “Today, we are accomplishing aloof that with a new $500–600M sub armamentarium focused primarily on aqueous tokens and agenda assets,” the blog column appear on Thursday notes. Sequoia Basic continued:
Venture basic aimed at blockchain protocols, crypto assets, and advancing blockchain startups grew exponentially aftermost year. In fact, all-embracing adventure basic (VC) investments in 2021 bankrupt annal at $621 billion. Aftermost year’s adventure capital, funds that were primarily focused on crypto tokens and blockchain technology businesses, represented 5.28% of 2021’s accumulated VC investments with $32.8 billion.
While the Sequoia Crypto Fund will arrange $500 actor to $600 actor against “liquid tokens and agenda assets,” Sequoia says it additionally affairs to abide partnering with crypto teams beyond the industry. During the aboriginal anniversary of February 2022, Sequoia Capital India led the $450 actor investment annular in Polygon. Sequoia is advised one of the 20 top adventure investors in blockchain and crypto. The California aggregation has investments in Metastable, Polychain, Binance, Huobi, Polygon, Orchid Labs, and String Labs.
What do you anticipate about Sequoia Capital announcement the barrage of a new $500 actor to $600 actor sub-fund committed to cryptocurrencies? Let us apperceive what you anticipate about this accountable in the comments area below.
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