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Fast take:
Dao5 closed its first fund in 2022 with $125 million in funding and has since invested in over 50 crypto tasks together with Bittensor, Story Protocol, and EigenLayer.
The agency has already deployed everything of its first fund and the overwhelming majority of commitments to its restricted companions.
The most recent fund brings the full belongings below administration to roughly $550 million.
Dao5 a enterprise capital agency centered on advancing the mainstream adoption of digital belongings has closed its second fund with $220 million in funding. The multi-strategy fund is aimed toward “stewarding institutional evolution of crypto,” the corporate mentioned in a press launch seen by NFTgators.
Commenting on the announcement, crypto veteran and Dao5 founder, Tekin Salimi mentioned in an announcement: “Crypto is getting into its adolescence section. The business’s dependency on pure hypothesis as the motive force of development is now not as efficient because it as soon as was. Future success will likely be decided by the true integration of blockchain know-how into world monetary, governmental, and personal sector techniques.”
The brand new fund brings Dao5’s complete belongings below administration to roughly $550 million. Since closing its first fund at $125 million in 2022, the corporate has invested in over 50 crypto tasks, together with BitTensor, Berachain, EigenLayer, and Story, with a number of the investments executed through the bear market from 2022-2023.
In line with the announcement, the agency has already deployed everything of its first fund and the overwhelming majority of commitments to its restricted companions.
“Success on this house typically comes from a capability to go the place others can’t,” mentioned Salimi concerning the success of the tasks that the corporate has backed over time. “After we invested in Berachain, most funds had been unable to underwrite the danger of investing in fully pseudonymous founders. However we had been keen to go a step additional in our diligence on the founders.”
Smokey the Bera, co-founder of Berachain commented: “As our first lead investor, they proved to be extremely strategic at each step since their funding, and we imagine their mannequin for involving and incentivizing portfolio founders like myself sooner or later economics of the fund is novel and promising.”
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