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Cryptocurrency-focused investment firm North Island Ventures is launching a new $125 million investment fund.
The company plans to make 30 to 40 early-stage investments in new crypto and Web3 companies and protocols, according to a statement released Tuesday.
According to the company, the initial investment will be between $250,000 and $3 million.
“We launched NIV in 2020 based on our belief that cryptography is the next great technology,” said Travis Sher, co-founder and managing partner of North Island Ventures. Since then, the industry has made significant progress, but we believe in the real potential of this technology is barely realized.”
The company said the NIV Fund II is the second new investment vehicle for North Island businesses over the past year. Currently, the North Island manages assets worth about $ 300 million.
North Island businesses have invested in companies such as the Immunefi error-finding platform, the Axelar blockchain interoperability protocol, and BCB Group.
“We have entered the world of multi-chaining and firmly believe that the end state of cryptography is an invisible, interoperable network of networks where both users and developers do not need to think about the underlying blockchain of their assets. and the apps continue to live,” Sher said.
Last year, North Island launched a $72 million crypto fund featuring investors such as billionaires Paul Tudor Jones, recording artist and producer LL Cool J, and SoFi CEO Anthony Noto, among others.
“NIV Fund II gives us the opportunity to continue working with outstanding entrepreneurs looking to build a transcendental business,” said co-founder and managing partner James Hutchins. Opportunities and rich experience allow us to bring real value, helping the founders to promote their business from the idea stage to the launch, product compliance with the market and maturity.
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