Electric Capital raises $1 Billion financing to advance web3 economy. With this new capital, the venture firm will provide funding to crypto networks, Web3 platforms and protocols, and blockchain-enabled businesses.
Electric Capital is a venture capital capital firm that invests in Web3 protocols, crypto networks, and blockchain-enabled businesses. Electric partners with founders on developing governance frameworks and participates actively across governance, token economic design, liquidity provisioning, and bootstrapping networks.
Electric Capital’s investments include Bitwise, Celo, dYdX, DFINITY, Frax Finance, Gitcoin, Immunefi, Iron Fish Network, Kraken, NEAR, Tokemak, and more.
Electric Capital Co-Founder, Avichal Garg, said:
“Founders in Web3 need crypto-native investors who understand the unique support that protocols and Web3 companies require through the inevitable crypto cycles. We bring deep knowledge in decentralized governance, shipping open-source software, community building, token economics, and distributed systems.”
Electric Capital said in a blog post that it will continue to invest between $1 million and $20 million in equity and tokens in the following areas:
- Platforms and protocols that support new communities powered by NFTs and DAOs.
- Decentralized Web3 infrastructure that allows engineers to build the next generation of applications without a central point of failure or control.
- Decentralized Finance that democratizes access to financial products.
- Accessible user experiences that onboard millions of users to Web3.
Electric Capital cofounder Curtis Spencer, said:
“We have spent the last four years building software and data systems that enable us to participate in Web3 ecosystems. We use the infrastructure we have built to provide liquidity, run validators, help teams better understand their ecosystems with our novel data, and more. We look forward to continuing to push the frontier of how investors and protocols can create value together.”
With this new fundraising, Electric Capital is now amongst one of the largest independent, crypto-native venture capital firms in the world such as Andreessen Horowitz, Paradigm and 10T Holdings.
Read Also: Hashflow Raises $3.2M in Seed Funding Led by Dragonfly Capital, Electric Capital