Tectono Business Review: TWO AMERICAN CRYPTO INVESTMENT FIRMS SECURE OVER $350M IN FUNDING

Thursday 20 July 2023

TWO AMERICAN CRYPTO INVESTMENT FIRMS SECURE OVER $350M IN FUNDING

Two American cryptocurrency and blockchain technology investment firms, Polychain Capital and CoinFund, have conjointly raised over $350 million in funding.

This dramatizes the fact that that in spite of the downswing in crypto venture capital funding over the past year, there are still notable exceptions where funds are successfully raised.

Polychain Capital raised $200 million for its fourth investment fund in a recent first close, signaling that agreements have been made with investors and the funding process for startups and projects can begin.

CoinFund raised $152 million for its fourth seed fund.

Overall venture funding for crypto and Web3 startups has recorded a 76% cutback compared to the same period last year.

The artificial intelligence (AI) industry has continued to be a centerpiece for investors, which dramatizes their snowballing interest in technological advancements and disruptive innovations.

The AI industry has attracted over $12 billion in venture funding pouring in since January 1, 2023.

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Thursday 20 July 2023

TWO AMERICAN CRYPTO INVESTMENT FIRMS SECURE OVER $350M IN FUNDING

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