VC Tribe Capital targets $100M for new crypto fund: Coindesk

Tribe Capital plans to raise 100 million dollars for a fonds which will support crypto projects focused on safety, l’scalability or the inter-channel compatibilityaccording to people close to the matter.

Tribe Capitala U.S. venture capital firm with more than $1.6 billion in assets under management, plans to launch a new investment fund dedicated to the crypto sector and endowed with 100 million dollarsreports Coindeskciting anonymous sources.

With its ” Digital Future Fund I “The American VC is expected to support startups that are developing blockchains l1 and l2 but also DeFi and Web3 gaming projects via checks ranging from $500,000 to $3 million.

The overall ambition: to contribute to the development of protocols that can provide security, scalability, liquidity and cross-chain compatibility to strengthen trust in the industry, according to sources.

Founded in 2018 in Menlo Park, Tribe Capital launched a $75 million crypto fund at the end of 2021. The firm, which recently invested in Bearchain and Ethos Wallet, is also backing major projects such as Polygon and Cosmos.

Shareholder of FTX before its bankruptcy, Tribe Capital is now said to be interested in contributing to the rebirth of the crypto exchange launched by alleged swindler Sam Bankman Fried. According to Bloombergthe VC could invest up to $100 million as part of a $250 million round of financing.

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