Multicoin Capital Announces $430M Fund for Crypto Ventures

Multicoin Capital has a new venture fund, totaling $430 million for investing in crypto opportunities, a company press release said Tuesday (July 12).

The fund will invest between $500,000 and $25 million in early-stage startups and up to $100 million or more for later stage projects.

“We’ve been investing in crypto for about five years now, and have watched innovation slowly move up the stack,” the release said. “While we continue to make deep tech and infrastructure investments, we are spending an increasing percentage of our time on things that directly face consumers and that are poised to reshape massive consumer-facing markets.”

Some of those investments include proof of physical work, by which the company means projects that create incentives to make things happen in the physical world, such as building cell towers and updating maps.

The company says it wants to work on protocols getting people to do “verifiable work that builds real-world infrastructure.”

It will also be working on DataDAOs, which are similar to proof of physical work but for data opportunities. The company cites the wide breadth of fragmented data that could be more valuable if aggregated. But it can’t be aggregated due to being too sensitive or personal. Crypto could encourage users to contribute data, and making a decentralized, permissionless data intermediary for more access and inclusion.

In addition, the company wants to add more creator monetization, which it says will be a ripe field with “millions of creators” wanting to try it out. Other ventures include Web3 infrastructure and open finance.

See also: $20M PAC Launch Shows the $1.7T Crypto Industry Is Playing Catch-up on Lobbying

PYMNTS wrote in January that there were crypto-centric political action committees (PACs) which were spending tens of millions for supporting candidates and policies. One of them, GMI PAC, saw investments from Multicoin and others.

GMI PAC’s goal is to have better regulatory framework for the crypto world, with the website saying it wanted to back  “candidates who work to give U.S.-based innovators the opportunity to build next-generation technologies and services here in America rather than doing that valuable work overseas.”

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