Lightspeed Venture Launches a Blockchain-Focused Team, Multicoin Capital Raises $430M #togrp7
The ongoing crypto winter has been so far uneasy for investors, but for true believers of the new technology, it seems like time to double down their efforts on high-potential projects. Fintech-focused US VC firm Lightspeed Venture Partners announced the launch of a new blockchain-focused team.
The news comes along with Lightspeed Venture Partners unveiling three new US funds that have, in total, raised $6.6 billion and a $500 million fund focused on Indian early-stage startups. At present, the VC firm has $18 billion worth of assets under its management. The decision to bet big on blockchain companies corresponds to the investment thesis that the tech “is changing how network participants are incentivized, how startups within this ecosystem are funded, and how communities can coalesce their shared power to create change,” the firm said.