New-York based web3 investment firm CoinFund is on the hunt to raise $250 million just three months after its previous fund.
CoinFund announced that it plans to use the investment to fund seed-stage startups.
Three separate filings have shown that CoinFund’s Cayman Islands-domiciled funds aim to raise $130 million and $20 million. Meanwhile, the company’s Delaware-associated branch is looking for $100 million.
The reports suggest that the funding round is still in its infant stage, and sales have not yet occurred.
In August, CoinFund announced a $300 million fund to back early-stage blockchain projects.
The fund was backed by institutional investors, including the Teacher Retirement System of Texas, Adams Street Partners and StepStone Group.
The venture fund, which is called ‘The CoinFund Ventures I fund,’ was opened to invest in web3 firms showing commercial traction.
David Pakman, CoinFund managing partner and venture investing…
