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Electric Capital closes $1 billion in funds to back crypto startups, buy tokens


Fervor surrounding the opportunities in the crypto space has seemed to upend the venture world over the past couple years with major players shaking up how their firms are fundamentally organized in order to compete with so-called crypto native investment firms.
While a plethora of breakout web3 funds popped up in the past several months, a smaller class of crypto VC firms working on their second or third dedicated fund are increasingly ready to cash in on being early to the ecosystem by raising mega funds designed to milk every rising opportunity in the web3 world.
Electric Capital announced Tuesday that they had closed $1 billion for a pair of crypto funds — a $400 million vehicle for …

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