Tribe Capital, a Venture Capital Firm, Aims to Raise $100 Million for its New Crypto Fund, According to Sources

Tribe intends to allocate funds ranging from $500,000 to $3 million towards early-stage investments in layer 1 and 2 ecosystems, DeFi projects, and infrastructure initiatives aimed at integrating tangible assets into blockchain networks.

Tribe Capital, a venture capital firm known for its previous support of cryptocurrency companies Kraken and Bitfinex, has announced the launch of a new crypto fund. According to sources familiar with the matter, the company aims to raise $100 million for this fund, which will focus on early-stage investments in various areas of the crypto ecosystem.

With its headquarters in San Francisco and $1.6 billion in assets under management, Tribe Capital intends to allocate funds ranging from $500,000 to $3 million. The target investment areas include layer 1 and 2 ecosystems, decentralized finance (DeFi) projects, and infrastructure initiatives aimed at integrating real-world assets onto blockchain platforms.

The company’s primary objective is to support the development of protocols that offer enhanced security, scalability, liquidity, and cross-chain compatibility. By facilitating the creation of such protocols, Tribe Capital aims to build trust within the crypto ecosystem and encourage wider adoption of cryptocurrencies and blockchain technology.

Tribe, a prominent venture capital firm, is continuing its foray into the cryptocurrency space with the launch of its latest fund, named “Digital Future Fund I.” This new fund follows the success of Tribe’s previous cryptocurrency fund, which managed to raise an impressive $75 million in October 2021.

However, the crypto investment landscape experienced a significant downturn in January, witnessing a staggering drop of over 90% in venture capital and other investments compared to the previous year. This decline can be attributed to the tumultuous events that unfolded throughout 2022, culminating in the collapse of FTX, a prominent cryptocurrency exchange, in November.

Interestingly, despite having FTX in its portfolio, Tribe seems undeterred by the setback. In fact, reports suggest that the firm is contemplating taking a leading role in a $250 million fundraising campaign aimed at assisting the bankrupt exchange in restarting its operations.

CoinDesk reached out to Tribe for comments regarding these developments, but the venture capital firm has not responded thus far.


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