The $75 million fund was announced during an uptick of institutional interest in crypto investments.
Prominent venture capitalists Marc Andreessen, Galaxy Digital, and Accolade Partners are among the top contributors to crypto venture capital firm 1kx’s latest fund.
1kx raised $75 million, with Chris Dixon, a partner at Andreessen Horowitz, as one of the limited partners, Lasse Clausen, the founding partner of 1kx,1kx’s new fund is targeting crypto-based consumer applications. The new fund has already made around five investments, said Clausen, without naming the companies. Clausen founded 1kx in 2018, along with Christopher Heymann.
The announcement of the new fund comes during a period of increasing institutional interest in crypto, bolstered by the approval of spot Bitcoin exchange-traded funds in the United States.uptick in Q4 2023 to $1.9 billion, which is 2.5% higher than the previous quarter, according to a report from PitchBook. This is the first time VC investments have risen since March 2022.seed funding round, led by Founder Fund and Dragonfly, at the end of February. The Web3 data availability and consensus layer aims to use the funds to develop its products and accelerate Web3 unification.The new fund called “Inevitable Games Fund,” or IGF for short, raised $30 million during its first close.
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