North Island Ventures

North Island Ventures Raises $125M For Investing In Crypto Startups

  • North Island Ventures, an investment firm, has raised $125 million for its investment fund for investing in crypto-related startups and Web3 protocols.
  • The crypto-focused firm will be investing in around 30 to 40 crypto early-stage investments in emerging crypto firms, ranging between $250,000 and $3 million.

Leading crypto-focused venture capital firm North Island Ventures has recently announced the launch of a new NIV Fund II with $125 million in commitments. 

According to a recent announcement by the North Island Ventures, it is intending to make early-stage investments in 30 to 40 emerging crypto and Web3 initiatives and protocols, with initial investments ranging between $250,000 and $3 million.

With regard to DeFi, NFTs, digital identification, blockchain cybersecurity, cross-chain interoperability, DeSci, and other areas, the fund aims to promote investments in Web3 infrastructure and applications spanning many levels, verticals, and use cases. Travis Scher, the co-founder and managing partner at North Islands Ventures highlighted the potential of Web3 by stating:

“We launched NIV in 2020 based on our belief that crypto is the next great enabling technology. The industry has advanced tremendously since then, but we believe the real potential of this technology has barely been realized.”

Notably, several companies including the bug bounty service Immunefi, the blockchain interoperability protocol Axelar, and Europe’s crypto business banking service provider BCB Group have received investment from North Island Ventures.

“We’ve entered a multichain world, and have a strong thesis that the end-state of crypto is as an invisible, interoperable network-of-networks, where both users and developers don’t have to think about the underlying blockchain their assets and apps live on,”

Scher further explained.

On the other hand, the company’s co-founder and managing partner James Hutchins said that the newly-launched fund marks a milestone in company’s goal of partnering with “extraordinary entrepreneurs aiming to build transcendent businesses.”

“Supporting early-stage founders in their journeys is our true passion – and our broad network, honed research capabilities, and depth of experience enables us to add real value, helping founders take their businesses from the idea stage to launch, product-market fit, and maturity,”

He added.

It is important to note that last year, North Island Ventures launched a $72 million crypto fund which saw participation from investors like recording artist and producer LL Cool J, billionaires Paul Tudor Jones, and SoFi CEO Anthony Noto, among others.

Despite the ongoing crypto winter season, investments in crypto companies and their innovative ideas continue to increase in recent times, with VC firm Caerus Ventures launching a $100 million fund in collaboration with NEAR Foundation.

Parth Dubey Verified

A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.

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