Venture Fund to Invest Majority of $100 Million Raised Fund in DeFi Protocols

After investing its original $35 million fund in Bitcoin and Ethereum, Electric Capital is now looking at the currently hot space in the crypto market: DeFi.

San Francisco-based venture fund Electric Capital has raised $100 million from university endowments and other non-profits and it will be using this to invest in digital assets and related businesses.

The firm is known for its earlier investments in crypto projects like Anchorage, Bitwise, and Celo. A third of its assets have already been invested in Bitcoin, Ethereum, and several projects like DerivaDEX exchange.

The fund that closed in May will have a long-term time horizon of 10 years, according to its co-founder Avichal Garg, who previously worked at Google and Facebook as the director of product management. He said,

“Bitcoin and Ethereum are a minority of the fund.”

“Our thoughts are more toward Defi protocols, apps built on top of this stuff.”

The firm uses software to determine which projects are seeing interest from programmers to guide its investments and help companies that it invests in grow. Electric’s original $35 million fund was invested in digital currencies like BTC, Ether, and blockchain projects.

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AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

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