Cryptocurrencies
Crypto Venture Fund Raises $110 Million From Universities
- Electric Capital says it closed second crypto-focused fund
- One third of the fund’s assets have already been invested
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Electric Capital, a San Francisco-based venture fund, said it will use $110 million raised from university endowments and other nonprofits to invest in cryptocurrencies and related businesses.
Electric is known for its earlier investments in crypto projects such as Bitwise, Anchorage and Celo. The firm says it uses software to determine which projects are seeing interest from programmers to help guide its investments and to help companies it invests in grow.