Early-Stage Blockchain Startups to be Funded by Gumi Cryptos

Early-Stage Blockchain Startups to be Funded by Gumi Cryptos

 

Gumi Cryptos Capital (GCC) announced the blockchain-focused venture capital firm’s second fund that will invest $110 million in early-stage blockchain startups. The second fund follows GCC’s initial $21 million fund that backed seed-stage founders.

Fund II, managed by the firm, will invest $110 million in early-stage blockchain startups. The blockchain-focused venture capital firm, Gumi Cryptos Capital (GCC), has announced the launch of a $100 million fund that will be focused on blockchain concepts like decentralised finance (defi), game finance (gamefi), Web3, and other types of ideas being created by early-stage blockchain startups.

In a statement sent to Bitcoin.com News, GCC’s managing partner, Rui Zhang, said:

"Think of us as blockchain’s experienced, high-conviction, high-trust, hands-on value-adding, long time preference, unicorn to megacorn, builder-focused all-in venture society."

GCC’s announcement further details that Fund II will target software engineers, decentralised autonomous organisations (DAOs), guilds, and more. "At any layer, at the earliest stage, it is chain-agnostic."

The announcement explains that Fund II will invest in both equity and tokens. "GCC expects to invest $500,000 to $5 million in each project. The investment will be made through both initial and follow-on investments.

Venture capital continues to bolster blockchain funds. GCC Managing Partner Says "There’s a Strong Appetite for Experimentation."

GCC’s Fund II follows a slew of venture capital funds announced during the last year. Cypher Capital, a United Arab Emirates (UAE)-based venture capital (VC) firm, just announced a $100 million fund focused on metaverse, defi, and gamefi concepts. The crypto exchange Luno announced that the firm’s investment arm, Luno Expeditions, launched a fund dedicated to fintech startups. Venture capital firm Griffin Gaming Partners (GGP) announced a $750 million fund to support gaming concepts that involve blockchain and Web3 ideas.

According to GCC, the companies in the firm’s portfolio have raised more than $1 billion since January 2020. The company’s managing partners include Hironao Kunimitsu, Miko Matsumura, and Rui Zhang.

"We live in the Experimental Age," Matsumura explains in a statement sent to Bitcoin.com News. The existing institutions and infrastructure, including social infrastructure, governance, financial services, and big tech, are demonstrably failing us. Because the way forward is unknown, there’s a strong appetite for experimentation. " Matsumura added

Tokens represent monetary experimentation powering Web3, while DAOs and guilds are governance experiments. Avatars represent "personality experiments", whether backed by individuals, bots, or groups. NFTs are experimental digital assets. The metaverse is a collection of experimental realities.