Key Takeaways
- CoinFund closes its Seed IV Fund, surpassing its initial target of $125 million. The fund will be used to invest in early-stage projects within the web3 ecosystem.
- The firm has raised over $550 million in the past 18 months across various investment strategies, reflecting their bullish outlook on the industry.
- CoinFund unveiled a new mission and vision statement, positioning themselves as champions of the leaders shaping the new internet.
Web3 investment firm CoinFund has closed its CoinFund Seed IV Fund LP, raising $158 million. The fund exceeded its initial target of $125 million and will be used to support pre-seed and seed stage investments in new projects within the web3 ecosystem.
CoinFund was founded in 2015 by Jake Brukhman and Alex Felix, and it now boasts a team of nearly 30 people with over 100 investments across six different vehicles. Despite industry challenges, CoinFund remains committed to long-term investment in blockchain technology and has a positive outlook on the industry’s future.
The firm’s CEO and co-founder, Jake Brukhman, expressed pride in the institutional-grade firm they have built over the last two years.
CoinFund aims to back emerging teams and technologies early on and has a clear vision for how next-generation applications will be built on web3 infrastructure.
Alongside the fund announcement, CoinFund also unveiled a new mission and vision statement, emphasizing its role as a champion of the leaders of the new internet. The firm aims to achieve extraordinary results as active investors by leveraging their foresight and supporting portfolio companies beyond just financial contributions.
CoinFund has recently made several investments, including Cloudburst Technologies, Gensyn, Giza, Neutron, and Superstate.
The firm’s investment team is focused on deploying capital into seed-stage deals and is led by managing partners with expertise in areas such as decentralization technologies, AI, marketplaces, financial services, NFTs, consumer services, gaming, and more. The team includes individuals with knowledge in ZK/ML/AI, DeFi, Layer 2s, infrastructure, and emerging markets.
CoinFund has also undergone organizational growth, appointing Dilveer Vahali as Head of Venture Legal, Jules Mossler as Head of Marketing & Communications, and Jenna Pilgrim as Head of Platform.
The firm said that it continues to seek talented investors and individuals interested in portfolio company roles.
The close of Seed IV follows CoinFund’s recent announcement of CESR, a composite ether staking rate, which will serve as a global benchmark for financial instruments referencing the Ethereum Proof of Stake blockchain. CESR represents CoinFund’s commitment to the growth and mainstream convergence of web3.
Read Also: Tech Veteran Julie Mossler Joins CoinFund as Head of Marketing and Communications
