{"id":51501,"date":"2021-10-20T16:07:51","date_gmt":"2021-10-20T13:07:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51501"},"modified":"2025-09-03T00:03:48","modified_gmt":"2025-09-02T21:03:48","slug":"galaxy-digital-multicoin-capital-and-variant-to-commit-685-million-to-crypto-startups","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/galaxy-digital-multicoin-capital-and-variant-to-commit-685-million-to-crypto-startups\/","title":{"rendered":"Galaxy Digital, Multicoin Capital and Variant to commit $685 million to crypto startups"},"content":{"rendered":"<p>The cryptocurrency trading bank Galaxy Digital and venture firms Multicoin Capital and Variant said they planned to invest in crypto startups in the amounts of $325 million, $250 million and $110 million respectively.<\/p>\n<p> Galaxy Digital&#8217;s structure targets projects at the intersection of interactive entertainment, Web3 and social networks. The funds were raised by its subsidiary Galaxy Interactive.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Proud of our team at <a href=\"https:\/\/twitter.com\/search?q=%24GLXY&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GLXY<\/a>. <a href=\"https:\/\/twitter.com\/galaxyRTK?ref_src=twsrc%5Etfw\">@galaxyRTK<\/a> and <a href=\"https:\/\/twitter.com\/samenglebardt?ref_src=twsrc%5Etfw\">@samenglebardt<\/a> and the team they put together really love and know the interactive space. We are LONG the metaverse at Galaxy. <a href=\"https:\/\/t.co\/fA5BNFaRBI\">https:\/\/t.co\/fA5BNFaRBI<\/a><\/p>\n<p>\u2014 Mike Novogratz (@novogratz) <a href=\"https:\/\/twitter.com\/novogratz\/status\/1450466362334253071?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The new fund will also be able to purchase tokens.<\/p>\n<p> Galaxy Interactive will have a total of $650 million, making the fund the largest among the 100 gaming-focused funds, according to Drake Star Partners. The investment bank notes that startups in this segment raised a total of $71 billion in the first nine months of 2021.<\/p>\n<p>Of the current $325 million Galaxy Interactive has already invested $150 million. In particular, the funds went to Republic, 1047 Games, Elodie, ROAR, Art Blocks and Masterworks.<\/p>\n<p>Multicoin plans to raise $250 million by the end of 2021 for its third crypto venture fund, according to <a href=\"https:\/\/www.theinformation.com\/articles\/multicoin-capital-targets-250-million-for-third-crypto-vc-fund\">The Information<\/a>. The new vehicle will focus on investments in <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a>, primarily on interest-rate market protocols.<\/p>\n<p>In May, the company <a href=\"https:\/\/u1f987.com\/en\/news\/multicoin-capital-launches-100-million-fund-for-defi-and-nft-investments\">launched its second fund with $100 million in assets<\/a>.<\/p>\n<p>The fund, created by former a16z personnel, with $110 million in assets, will focus on the so-called &#8220;ownership economy&#8221;\u2014products and services created, operated and owned by users. The portfolio includes Uniswap and Mirror tokens.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Variant Fund II: $110 million fund built for the ownership economy \u2014 Variant <a href=\"https:\/\/t.co\/XFOxJMR777\">https:\/\/t.co\/XFOxJMR777<\/a><\/p>\n<p>\u2014 MC HAMMER (@MCHammer) <a href=\"https:\/\/twitter.com\/MCHammer\/status\/1450616473689329664?ref_src=twsrc%5Etfw\">October 20, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Variant Fund II is aimed at supporting teams that use token distribution as a way to incentivize creative projects \u2014 from games to music and art. The fund intends to invest, among other things, in consumer platforms, games, infrastructure and DeFi.<\/p>\n<p>Among the investors in Variant Fund II are employees of Uniswap, Compound, Foundation, Zora, Yield Guild Games, Mirror and other projects. The firm pursues a thesis \u2014 ownership for users and founders it backs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I wanted to hand ownership to users. <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%92%D0%B5%D0%B1_2.0\">Web2<\/a> lets people earn money, but not at the platform level. [Thanks to Web3] you can distribute ownership as easily as information&#8221;<\/em>, \u2014 said in an interview <a href=\"https:\/\/decrypt.co\/83772\/andreessen-horowitz-vets-launch-110m-crypto-ownership-fund\">Decrypt<\/a> co-founder of Atelier Ventures Li Jin, who joined Variant.<\/p>\n<\/blockquote>\n<p>Earlier in October, Bitkraft Ventures <a href=\"https:\/\/u1f987.com\/en\/news\/bitkraft-ventures-launches-a-75m-fund-focused-on-blockchain-games\">launched a $75 million fund<\/a> focused on blockchain games.<\/p>\n<p> Follow ForkLog on Twitter!<\/p>\n<p> \u041f\u043e\u0434\u043f\u0438\u0441\u044b\u0432\u0430\u0439\u0442\u0435\u0441\u044c \u043d\u0430 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 ForkLog \u0432 <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency trading bank Galaxy Digital and venture firms Multicoin Capital and Variant said they planned to invest in crypto startups in the amounts of $325 million, $250 million and $110 million respectively.<\/p>\n","protected":false},"author":1,"featured_media":51502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1155,1223,1133],"class_list":["post-51501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-games-and-gamefi","tag-startups","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51501"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51501\/revisions"}],"predecessor-version":[{"id":51503,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51501\/revisions\/51503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51502"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}