Crypto VC TenSquared Capital seeks to raise $200M: Bloomberg

According to Bloomberg, TenSquared Capitala new venture capital company created by one of the founders from 10T Holdingsis preparing a investment fund focused crypto and equipped with 200 million dollars.

Founded earlier this year by Stan Miroshnikthe co-founder of VC 10T Holdings, TenSquared Capital (10SQ) is now seeking to raise 200 million dollars to invest in crypto projectsaccording to sources close to the case quoted by Bloomberg.

The initiative takes place in a context marked by the mistrust of the venture capital towards startups in this nascent sector following the 2022 disasters such as Terra and FTX. According to PitchBook, crypto companies raised $2.4 billion in Q1 2023, 4 times less than in Q1 2022.

Based in Los Angeles, the company is led by Miroshnik and co-founder Elaine Co. Several 10T employees are also on the team. TenSquared Capital will invest primarily in stocks, not tokens, according to sources.

The second co-founder of 10T Holdings, Dan Tapieroalso announced earlier this year the creation of a new investment company. Named 1RoundTable PartnersThe latter is supported by Alan Howard.

End of 2021, 10T Was launching a crypto fund with $500 million. The American VC has invested in several giants of the ecosystem such as Ledger, Doodles, Deribit or Animoca Brands. He recently led a round of financing for Web3 Blockworks.

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