CoinFund raises $158m in new round

Cryptonative investment firm CoinFund has successfully concluded a funding round, raising $158 million for its CoinFund Seed IV Fund LP. The funding round received support from a diverse range of investors, including institutional investors, family offices, and affluent individuals.

Headquartered in Brooklyn, CoinFund was founded by Jake Brukhman, a veteran of Highbridge Capital Management and Amazon, with later support from co-founder Alex Felix, a luminary from American Capital. The firm has established itself as a significant player in the financial technology space, specialising in supporting promising founding teams within the web3 ecosystem and investing in the future of blockchain technology and its applications.

With the recent funding surpassing its initial target of $125 million, CoinFund is well-positioned to provide comprehensive support for pre-seed and seed-stage investments in the web3 ecosystem. This funding reflects CoinFund’s commitment to thoughtful, long-term investments in blockchain technology, marking a significant milestone in its growth journey.

The newly acquired funds will be allocated to strengthening CoinFund’s investment strategies and resources, facilitating the growth of each portfolio company, and enabling the identification and support of emerging teams and technologies. CoinFund, entering its ninth year of operation, has built an institutional-grade operation, raising over $550 million in the last 18 months across various investment strategies.

Jake Brukhman, CEO and co-founder of CoinFund, stated, “As CoinFund enters its ninth year, we continue to raise the bar for ourselves, our investors, and our portfolio companies. Our investors have shown deep confidence in our people and strategy by continuing to allocate capital to our products in a bear market.”

CoinFund also unveiled a new mission and vision statement alongside the Seed IV closure, emphasising their role as champions of the leaders of the new internet. The statement reflects the company’s commitment to active investment and achieving extraordinary results.

CoinFund’s CIO and co-founder, Alex Felix, added, “Being a champion is more than writing a check. It’s being present, celebrating and promoting the smaller, everyday efforts that ultimately lead to significant achievements and large outcomes.”

To date, CoinFund has announced investments in various groundbreaking technologies, including cyberthreat intelligence for digital currency fraud by Cloudburst Technologies, ML compute protocol Gensyn, Giza, Cosmos layer 1 blockchain Neutron, and Superstate by Robert Leshner. The newly raised capital will be utilised to further support investments in similar innovative technologies.

This investment news follows CoinFund’s recent collaboration with CoinDesk Indices to launch the Composite Ether Staking Rate (CESR), highlighting their ongoing contributions to the growth and mainstream adoption of web3 and its associated technologies.