Draper Goren Holm Launches $25 Million Blockchain VC Fund

By Amit Chowdhry ● October 8, 2020
  • Los Angeles-based studio Draper Goren Holm has raised its first venture fund with $25 million (Fund 1) for investing in seed and Series A rounds

Los Angeles-based studio Draper Goren Holm has raised its first venture fund with $25 million (Fund 1) for investing in seed and Series A rounds. This announcement was made at the firm’s seventh annual Los Angeles Blockchain Summit — which was scheduled to happen at the L.A. Convention Center and offered attendees $100 worth of bitcoin each. Now that event is virtual.

The venture firm was founded in 2018 by Tim Draper, Josef Holm, and Alon Goren. Draper is a prominent venture capitalist and Holm and Goren co-founded Ownera and they have worked together assembling crypto and blockchain conferences.

Draper Goren Holm has already backed 18 startups. The firm’s portfolio companies include DeFi Money Market, Totle, Ownera, Innovesta, LunarCrush, Degens, Giftz, Vertalo, Coinsquad, CasperLabs, and Jointer. The company has especially seen tremendous internal growth, primarily in the decentralized finance (DeFi) and the security token and digital securities sector.

Draper Goren Holm is based in Los Angeles, but the firm is going to open an office in Vienna, Austria in December — which will be led by Holm. And Draper Goren Holm is a member of the Draper Venture Network, a global network of venture capital funds which provides portfolio companies with unparalleled distribution and dedicated support staff in Silicon Valley.

KEY QUOTES:

“This first close was a sort of ‘friends and family’ round. Alongside Tim Draper and other individual friends investing in us again, other blockchain funds like Blockchain Founders Fund and the Keiretsu Capital Blockchain Fund of Funds participated.”

— Alon Goren, Founding Partner of Draper Goren Holm

“I’m thrilled to participate in Draper Goren Holm’s Fund 1 as the team continues to maintain their dominance in Los Angeles, and soon, internationally. Our premier blockchain conference and accelerator has proven to funnel some of the industry’s top talent and entrepreneurs, and this new fund will allow us to double and even triple-down on our favorite projects.”

— Tim Draper, Special Limited Partner of Draper Goren Holm

“Europe is becoming a major hub for FinTech, and more specifically, blockchain innovation. It’s incredible to see how pro-crypto and blockchain European governments have become the last couple of years as their favourable regulations have attracted a flock of talented and diverse entrepreneurs building incredible projects across Vienna, Zug, and Berlin, to name a few. Fund 1 will capture this ever-growing market and Draper Goren Holm will expand its value-add beyond our initial home borders of Los Angeles.”

— Josef Holm, Founding Partner at Draper Goren Holm

“Every entrepreneur needs a group of talented investors, advisors, and coaches beside them from day one. In the blockchain space, that becomes even more important because every project begins with global aspirations that demand even great expertise and experience. That’s exactly what Draper Goren Holm offers its entrepreneurs.”

— Matthew Le Merle, Managing Partner of Keiretsu Capital