Venture Capital 1confirmation Secures $45 Million for Its Second Fund

Crypto-focused venture capital fund 1confirmation on Wednesday announced that it has closed its second fund - 1confirmation fund II - after raising $45 million.

The company already manages another fund with a value of $26 million. Now managing a total of over $75 million, the company is focused on investing in the early stage crypto companies.

“Since fund I launched two years ago, we’ve been lucky to work with great founders and partners (80+ LPs from 9 different countries) who have put trust in us to be good stewards for the industry as the adoption of open blockchains grows,” the official announcement stated.

Cryptos and equities

The portfolio of the company includes both digital currencies and equities of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term companies. The first fund invested in currencies backed by strong communities, including Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, Ethereum, MakerDAO, Augur, Cosmos, Polkadot, Nervos, and Brave. It also added projects with a promising team and vision like bloXroute, Coinbase, Commonwealth, dYdX, Forte, Harbor, OpenSea, Tendermint, and Veil to its portfolio.

“Today, the current total market value of crypto assets is ~$223B, and investment/speculation is the only mainstream use case. We think in the next five years, that total market value will surpass $1T as the investment/speculation use case continues to grow and other mainstream use cases emerge,” the announcement added.

The first fund was created by Nick Tomaino, an early Coinbase employee, in August 2017 and was backed by prominent individuals like Peter Thiel, Mark Cuban, and Marc Andreessen.

The company, however, did not disclose the details of the participants of the new fund.

Though with the new fund, the focus of the company will remain the same, only the amount of investment will rise as the company is planning to invest between $1 million to $2 million in each project, while with fund 1, the amount was between $250,000 to $1 million.

Earlier this month, Finance Magnates reported that Blockchain, the company behind the widely-used crypto wallet, is planning to raise $50 million for its venture capital fund.