- Electric Capital recently announced the closing of $1 billion in capital. These are the details.
Electric Capital recently announced the closing of $1 billion in capital to fund crypto networks, Web3 protocols, and blockchain-enabled businesses. And with this new fundraising, Electric Capital has become one of the largest independent and crypto-native venture capital firms in the world.
Electric Capital is going to continue to invest between $1 million and $20 million in equity and tokens in the following areas:
— Platforms and protocols that support new communities powered by NFTs and DAOs.
— Decentralized Web3 infrastructure that allows engineers to build the next generation of applications without a central point of failure or control.
— Decentralized Finance that democratizes access to financial products.
— Accessible user experiences that onboard millions of users to Web3.
The founders of Electric Capital are successful entrepreneurs with prior experience at Facebook and Google. And prior to starting Electric Capital, they were investors in companies such as Airtable, Boom, Cruise, Figma, Newfront Insurance, Notion, and others. Plus they are early supporters of crypto networks like Bitcoin, Ethereum, Monero, and others.
KEY QUOTES:
“Founders in Web3 need crypto-native investors who understand the unique support that protocols and Web3 companies require through the inevitable crypto cycles. We bring deep knowledge in decentralized governance, shipping open-source software, community building, token economics, and distributed systems.”
— Avichal Garg, co-founder
“We have spent the last four years building software and data systems that enable us to participate in Web3 ecosystems. We use the infrastructure we have built to provide liquidity, run validators, help teams better understand their ecosystems with our novel data, and more. We look forward to continuing to push the frontier of how investors and protocols can create value together.”
— Curtis Spencer, co-founder
