Crypto investment firm Multicoin Capital has launched a new fund worth $100 million, according to a Tuesday announcement.
The Venture Fund II would invest in several crypto sectors, including decentralized finance (DeFi), non-fungible tokens (NFTs), Web3 applications, and crypto infrastructure projects, said Multicoin.
Specifically, in DeFi, the fund is interested investing in projects that are building on Solana, which Multicoin invested in previously.
Multicoin said that “there will be a burgeoning DeFi ecosystem on Solana written natively in Rust that takes advantage of Solana’s performance, and plugs into Serum’s composable on-chain order book.”
As for NFTs, Multicoin said that it is “convinced” that virtual world projects, known by some as the Metaverse, will be a “massive” opportunity. When asked why, Kyle Samani, managing partner of Multicoin Capital, told The Block: “One of the most important trends in the world over the last 20 years has been that people spend an increas
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