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German VC Greenfield One Raises $160M Crypto Fund With Backing From Swisscom, Others

The VC’s third fund is its biggest yet, and most likely one of the largest crypto funds in Europe.

By Eliza Gkritsi
AccessTimeIconNov 24, 2021 at 8:00 a.m. UTC
Updated May 11, 2023 at 7:01 p.m. UTC
Berlin (Adam Vradenburg/Unsplash)
Berlin (Adam Vradenburg/Unsplash)
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Berlin-based venture capital (VC) firm Greenfield One has raised a $160 million (142 million euros) fund from telecom giant Swisscom, Galaxy Digital and others, to invest in crypto projects, according to a press release shared with CoinDesk.

  • Greenfield One’s third fund is likely one of the largest crypto funds in Europe to date. Fabric Ventures’ $130 million fund, which was announced earlier this year, was previously thought to be one of the largest European crypto funds.
  • German media giant Bertelsmann also invested in the $160 million fund. Bertelsmann had invested in Greenfield One’s second fund, which had a target volume of $56 million (50 million euros).
  • Other investors include Hamburg-based family office Lennertz & Co., Frankfurt-based VC CommerzVentures, and Barcelona-based fund of funds Aldea Ventures. All investors in the fund come from the private sector.
  • The fund has already made investments in governance lending protocol Paladin, decentralized finance project Brink, and non-fungible token rights management protocol Darkblock, among others, the press release said.
  • Greenfield One focuses on European Web 3 projects. The firm was an early investor in Celo, which received backing from Deutsche Telekom in April, as well as Dapper Labs’ Flow.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi
    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter

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