Asylum Ventures Launches $55M Fund for Startup Growth

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Asylum Ventures and Startup Creation
  2. Puffpaw Secures $6M for Platform Development
  3. Other Key Startup Investments


    4. A new venture capital firm in New York City, Asylum Ventures, launches a $55 million fund to support inception-stage startups.

    Asylum Ventures and Startup Creation

    Asylum Ventures has launched a new $55 million fund to invest in inception-stage startups. Behind the initiative are Nick Chirls, founder of Notation Capital, and Jonathan Wu, a former Aztec Networks growth leader. Based in Brooklyn, the firm plans to invest $1-2 million in pre-seed and seed-stage startups. Wu noted in an interview with Cointelegraph that the fund is looking for projects that have a harder time raising capital and may become popular in the future.

    Puffpaw Secures $6M for Platform Development

    Puffpaw, a DePIN platform on Berachain, has closed a $6 million seed funding round led by Lemniscap with participation from Volt Capital, Spartan, Folius Ventures, and others. Puffpaw offers a 'vape to quit smoking & earn' model, encouraging smokers to use Smart Vapes with lower nicotine levels and organic components. The funds will be used to develop the first 10,000 pre-order nodes.

    Other Key Startup Investments

    Permissionless Labs raised $10 million in a Series A funding round led by Multicoin Capital. Infinit secured $6 million for developing DeFi protocol infrastructure. DRiP raised $8 million for its creator engagement platform. Fintech IN1 raised $6 million to integrate fiat accounts and crypto wallets. DeFi.Gold raised $2.22 million for its DeFi platform built on the Bitcoin blockchain.

    The Asylum Ventures fund and other recent startup investments highlight the growing support and development of early-stage projects.

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