Named “OP Funds of Funds I,” the fund has secured $50 million in commitments from major companies like FTX’s investment subsidiary LedgerPrime and FJ Labs. (Reporting via coindanslecoin)
OP Crypto, a cryptocurrency venture capital firm founded by former Huobi executive David Gan, is launching a new fund to support emerging fund managers focused on early-stage crypto investments.
The OP FoF I will target a hard cap of $100 million, with founders planning to close out the fund by the end of Q3, OP Crypto’s chief operating officer Lucas He told Cointelegraph. While the fund has a “differentiated focus” on the Asia-Pacific region, it will continue to invest on a global scale and seek to get exposure to fund managers in regions like Latin America, Africa, India, Southeast Asia and others, He noted.
OP FoF I is the second fund to invest in emerging crypto fund managers by OP Crypto. In June 2021, the firm launched its $50 million OP Ventures Fund I, targeting pre-seed and seed projects across the Web 3.0 space. The fund was backed by major companies and institutional investors in the industry, including’s Galaxy Digital, the venture capital firm Digital Currency Group, Bill Ackman and Alan Howard.
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