Crypto venture capital Archetype raises $100 million for its third fund
On September 23, according to Fortune, crypto venture capital firm Archetype has raised $100 million for its third fund. Archetype previously raised its first $55 million fund in 2021, followed by a second $155 million fund at the peak of the crypto bull market in 2022. Although Archetype's third fund is smaller at $100 million, Egan stated that this was intentional, with a focus on selecting the right limited partners (LPs), adding only one new LP. Archetype's investors include pension funds, foundations, sovereign wealth funds, and other institutional investors such as funds from Accolade Partners and True Bridge Capital, as well as top venture capital firm Sapphire Ventures. Archetype's next round of investments will focus more on consumer-oriented companies, such as Remix, an application that combines cryptocurrency and artificial intelligence, allowing users to create mobile games.
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