Marc Andreessen, Craft Ventures Back Crypto Hedge Fund Multicoin
Crypto investment fund Multicoin Capital has announced that investors including Marc Andreessen are taking part in its $250 million flagship fund.
Crypto investment fund Multicoin Capital has announced that investors including Marc Andreessen are taking part in its flagship fund.
"Since launch, there's been a torrent of interest in Multicoin Capital, validating the overwhelming need for professional fund managers that understand the market intimately," said Kyle Samani, Multicoin's co-founder and managing partner.
Other new investors in the fund include Chris Dixon, Compound, Vy Capital, Passport Capital, Adam Zeplain of Mark VC, Ari Paul of Blocktower and Elad Gil of Color Genomics and Twitter, according to statements.
Multicoin Capital has said in the past that it seeks to differentiate itself from traditional fund efforts, stating at the time of its October launch that, while it may resemble a hedge fund, Multicoin is relying on a technology-driven methodology for identifying token prospects.
"We invest in tokens, not companies, and tokens, unlike companies, require new tools to operate at scale," Samani said at the time.
The news comes soon after Civic founder Vinny Lingham joined the fund as a general partner in December of last year.
Coins image via Shutterstock
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