Web3 investment firm CoinFund recently launched a $300 million fund targeting early-stage crypto and web3 startups.
The new fund is intended for new crypto startups already showing signs of success. As Pakman explains,
“We saw a lot of seed-stage companies graduating to have real progress and we wanted to invest in that stage too, so we raised a fund purposefully to invest at the Series A, maybe Series B stage of crypto projects that are showing some traction.”
While CoinFund is also looking to raise an additional $250 million fund specifically for seed-stage investments, Pakman says the early-stage investments typically see the most value creation:
“A company is showing a little bit of progress, they may be showing some evidence of product market fit, and they're going to raise — not growth capital yet — but, you know, ten to fifteen million dollars… the steepest part of the value creation can happen just after that moment.”
(By Davis Quinton and Frank Chaparro)