According to Axios, the venture division of the private investment platform Republic of about $ 1 billion is in talks to raise $ 700 million for two new crypto-oriented funds. The funds include a flagship venture fund for $ 200 million and a special crypto fund for $ 500 million, Axios writes in its newsletter Pro fintech.
The venture fund will set aside 20% of the capital to invest in cryptocurrency tokens, and the remaining 80% will go to invest in equity in web3, fintech and deeptech, according to Axios. A special cryptocurrency fund, he added, will focus on supporting protocols at a later stage.
Since its founding in January 2019, Republic Capital has invested in more than 100 companies, the company said. He was quite active in cryptospace, especially this led the investment in the blockchain company Flipside, a data analysis tool for protocols that rewards users for fulfilling last month’s queries and participating in Indian web3 startup CoinDCX recently raised $ 135 million.
As a company, Republic has been helping fundraising in cryptocurrencies in line with regulated securities offerings since 2017, the website said. Last October, CEO of the Republic Kendrick Nguyen said TechCrunch of the company’s potential plans to create a secondary market for digital securities focused on compliance.
Projects that have raised capital from investors through a crowdfunding platform include the DeFi Ratio Finance protocol and a Solana-based Zebec treasury management solution. In February the republic highlighted its meta-universe and NFT-focused investment departmentRepublic Realm as a separate company called Everyrealm, run by Janine Yoria.
Republic raised his A $ 150 million Series B funding round in October 2021 led by Valor Equity Partners. The company told TechCrunch that it also raised more than $ 20 million in crypto-token sales ahead of this round.
Republic did not respond to TechCrunch’s requests for comment.