On February 17, the enterprise capital agency Sequoia Capital introduced the launch of a brand new $500 million to $600 million sub-fund devoted to “liquid tokens and digital property.” The corporate famous throughout its announcement that the brand new fund highlights Sequoia’s strategic “dedication to crypto.”
Enterprise Agency Sequoia Capital to Launch a Fund Targeted on Liquid Tokens and Digital Property
The American enterprise capital agency headquartered in Menlo Park, California, Sequoia Capital is beginning a fund that can be targeted on investing in crypto property. In a blog post dubbed “A Block Step Ahead,” Sequoia says the brand new liquid token fund “enhances” the agency’s ongoing crypto investing. Sequoia’s announcement additional mentioned prior partnerships with crypto movers and shakers like FTX CEO Sam Bankman-Fried and Michael Shaulov the co-founder of Fireblocks.
The enterprise capital agency additionally talked about blockchains like Ethereum, Solana, and “main” decentralized finance (defi) protocols. Whereas investing in these applied sciences, Sequoia talked about studying an amazing deal alongside the way in which. “As we speak, we’re doing simply that with a brand new $500–600M sub fund targeted totally on liquid tokens and digital property,” the weblog submit printed on Thursday notes. Sequoia Capital continued:
Sequoia Crypto Fund enhances our broader dedication to crypto. Our aim with this fund is to take part extra actively in protocols, higher assist token-only tasks, and be taught by doing ourselves. We stay dedicated to working collaboratively with the crypto group, together with offering ongoing assist for open-source analysis.
Enterprise capital aimed toward blockchain protocols, crypto property, and up-and-coming blockchain startups grew exponentially final 12 months. Actually, general enterprise capital (VC) investments in 2021 broke data at $621 billion. Final 12 months’s enterprise capital, funds that have been primarily targeted on crypto tokens and blockchain expertise companies, represented 5.28% of 2021’s mixture VC investments with $32.8 billion.
Whereas the Sequoia Crypto Fund will deploy $500 million to $600 million towards “liquid tokens and digital property,” Sequoia says it additionally plans to proceed partnering with crypto groups throughout the business. In the course of the first week of February 2022, Sequoia Capital India led the $450 million funding spherical in Polygon. Sequoia is taken into account one of many 20 top venture investors in blockchain and crypto. The California firm has investments in Metastable, Polychain, Binance, Huobi, Polygon, Orchid Labs, and String Labs.
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