Multicoin Capital Raises $100M for Crypto Startups, Tokens

The announcement came alongside Multicoin’s promotion of Matt Shapiro, Mable Jiang, and John Robert Reed to partners.

share

key takeaways

  • Multicoin’s Venture Fund II hopes to capitalize DeFi, NFTs, Web3 applications and crypto infrastructure projects
  • Venture Fund II was closed in November 2020 and is already active

Multicoin Capital just secured $100 million in backing for a new fund, the firm announced Tuesday. 

Known for going outside the box, Multicoin plans to use Venture Fund II to expand investments into a range of crypto areas. This is the second fund the Texas-based cryptocurrency venture firm has launched in the past four years. 

“The last few years of crypto has been predominantly about investing in technical and market infrastructure,” Multicoin said in a statement. “Over the next few years there is going to be an incredible wave of innovation in Open Finance and Web3, as well as new kinds of crypto-enabled infrastructure and applications. This wave will only be possible because the underlying infrastructure has matured to a sufficient level.” 

Venture Fund II, which Multicoin is calling the “next wave of crypto innovation,” hopes to capitalize on new projects in the crypto space, including decentralized finance (DeFi), non-fungible tokens (NFTs), Web3 applications and crypto infrastructure projects, Multicoin said.   

“NFTs have blossomed over the last year as the foundational tech enabling people to express their passion for digitally native media assets,” Multicoin said. “The design space around NFTs is very large, and we’re excited to back in entrepreneurs who are at the forefront of this design space.”

Multicoin shared that there is a preference for early-stage companies and those with tokens. Capital can range from $500,000 up into the hundreds of millions, if Multicoin’s hedge fund contributes. 

Venture Fund II was closed in November 2020 and is already active. It is backed by undisclosed institutional liquidity providers (LP), among others. Multicoin’s first fund, which invested in projects including Helium and The Graph, has been fully deployed. 

Helium, which represented almost 12% of Fund I, was an extremely lucrative investment for Multicoin. The “people’s network” is up around 6,800% in the past year.

The announcement came alongside Multicoin’s promotion of Matt Shapiro, Mable Jiang, and John Robert Reed to partners.

Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (5).png

Research

Outside of stablecoins, the value of tokenized assets sits below $20B, dominated by the following asset classes: private credit, US Treasuries, commodities, institutional alternative funds, stocks, non-US government debt, and corporate bonds. In the coming months, we see the greatest opportunities in the tokenization of illiquid markets, particularly private equity. However, the successful integration of offchain assets into blockchain ecosystems relies heavily on clear and consistent regulatory frameworks, with purpose-built infrastructure to support it.

article-image

Markets react to Fed Chair Jerome Powell’s comments at yesterday’s FOMC meeting

article-image

At DAS, the US president noted he’s called upon Congress to enact “simple, common-sense rules” for stablecoins and market structure

article-image

GDC shows us crypto game developers feel a bit down despite lavish parties and packed crypto side events

article-image

What a Pyth/Morpho/Re7 debacle says about decentralized accountability

article-image

At DAS, VanEck’s Matthew Sigel weighed in on a market that’s “90% flows and 10% fundamentals”

article-image

The first sitting president to address a crypto conference says the US is positioned to “dominate crypto and the next generation of financial technologies”