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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
👉 Profile: https://www.gate.com/profile/Kevin%20Lee
Let’s give Kevin_Lee a warm welcome! 👏👏👏
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dao5 has completed the fundraising of 220 million USD encryption fund, focusing on institutional application direction.
According to the Gate.io News bot, the crypto venture capital firm dao5 has completed the second phase of its fund raising, totaling $222 million, as reported by Fortune. The firm was founded in 2022 by former Polychain investor Tekin Salimi.
The first phase of the $125 million fund by dao5 has been fully invested in encryption startups, including the Layer-1 blockchain Berachain and the decentralized AI project Bittensor. Tekin Salimi revealed that the first phase fund has achieved a 1x DPI, completing the return of the invested principal.
The new fund attracted about 15 limited partners to participate, mainly from family offices and high-net-worth individuals. The fund will focus on investing in institutional applications such as stablecoins and asset tokenization.