Robot Ventures, an early-stage venture capital investor focused on cryptocurrency projects, has raised $75 million for a new crypto fund.
New Fund and Its Investors
The fund is the U.S.-based crypto VC firm’s fourth fund. Robot Ventures’ portfolio includes projects such as Lido Finance (LDO), Optimism (OP), and LayerZero (ZRO). Notable investors for this fund include TrueBridge Capital Partners and Andreessen Horowitz, the latter being among the leading investors in crypto projects.
Comparison with Previous Funds
The $75 million fund is nearly three times bigger compared to Robot Ventures’ previous funds. According to the VC platform’s general partner Tarun Chitra, the jump from $22 million to the latest raise comes amid growing interest in crypto from institutional investors. However, the firm's raise is lower than the $150 million fund Hack VC raised in February and the $850 million that crypto venture capital giant Paradigm announced in June.
Key Investment Sectors
Some recent venture capital raises across the crypto market have suggested a fresh outlook. Key sectors include real-world assets projects, zero-knowledge proofs, decentralized physical infrastructure networks, and artificial intelligence. The decentralized finance market, capital markets, and Bitcoin economy ecosystem are also notable sectors. In one of its latest investments, Robot Ventures backed the $4 million round for zkMe, a project looking to build a zero-knowledge credential layer for web3.
The overall picture is that the crypto VC landscape has seen a decent spike in interest following a huge drop after the 2022 bear market.
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