Opinions expressed by Entrepreneur contributors are their own.
You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
San Francisco-based venture capital firm Tribe Capital is reportedly seeking to raise USD 100 million for its new crypto-focused fund, “Digital Future Fund I”. The Arjun Sethi-founded VC firm has backed around 15 crypto firms, including the Polygon and the now-infamous FTX.
Tribe Capital plans to make early-stage investments of USD 500,000- 3 million in layer 1 and 2 ecosystems, DeFi projects and real-world assets on the chain, according to an anonymous source.
With this fund, Tribe aims to drive the development of protocols providing liquidity, security, scalability, and cross-chain compatibility so that the crypto space regains its trust.
Back in October 2021, the firm announced a crypto fund of USD 75 million (which was initially planned for USD 50 million but was increased based on the positive response from investors). Around 75 per cent of funding was made in the US, while 25 per cent was made in international projects.
The upcoming fund will be managed by Boris Revsin, Managing Partner, Tribe Capital.