Robot Ventures, an early-stage venture capital investor specializing in cryptocurrency projects, has successfully raised $75 million for a new crypto fund. This marks the fourth fund for the U.S.-based crypto VC firm.

The firm’s portfolio includes prominent projects such as Lido Finance, Optimism, and LayerZero. The new fund attracted significant industry players, including TrueBridge Capital Partners and Andreessen Horowitz, one of the top investors in crypto initiatives.

The $75 million fund is nearly three times larger than Robot Ventures’ previous funds. General partner Tarun Chitra noted that the increase from $22 million to the latest raise highlights the growing interest in crypto from institutional investors.

Despite this achievement, the fund’s size is smaller compared to other recent funds. For instance, Hack VC raised $150 million in February, and Paradigm announced an $850 million fund in June. Recently, Lemniscap also launched a $70 million fund for web3 startups.

The overall crypto VC landscape has seen a resurgence in interest following a significant decline after the 2022 bear market. The sector observed a total of $2.7 billion in venture capital deals in the second quarter of 2024.

Key Crypto Sectors Attracting Venture Capital

Several sectors within the crypto market are currently attracting substantial venture capital interest. These include:

  • Real-world assets projects
  • Zero-knowledge proofs
  • Decentralized physical infrastructure networks
  • Artificial intelligence
  • Decentralized finance market
  • Capital markets
  • Bitcoin economy ecosystem

In its latest investment, Robot Ventures participated in a $4 million funding round for zkMe, a project focused on building a zero-knowledge credential layer for web3. Multicoin Capital led this strategic funding round, with OKX Ventures also participating.

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