Electric Capital; Raised $1 billion in funding to contribute to the development of crypto networks, Web3 protocols, and businesses running on blockchain.
Electric Capital, which raised $110 million in funds in August 2020, billion dollar fund Together, it has become one of the largest venture capital companies operating in the crypto money industry.
The company has allocated $400 million of this fund to a crypto-focused venture fund; He will use $ 600 million to establish a new token fund.
According to the statement made by Electric Capital, these funds are non-fungible token (NFT) and decentralized autonomous organization (DAO) platforms using technologies; It will invest in projects that provide decentralized infrastructure for Web3 technologies, decentralized finance (DeFi) projects, and projects that make Web3 technologies more accessible.
Avichal Garg, one of the founding partners of Electric Capital, especially as a company, regarding the two new funds they have established. decentralized management, token economy, distributed systems He stated that they specialize in areas such as and that they can support Web3 companies in these areas.