CoinFund Seed IV LP was backed by a series of institutional investors, family offices, and high-net-worth individuals, and it exceeded its initial fundraising aspirations of USD 125 million. The fund was established to support pre-seed and seed stage investments in new founding teams across the Web3 ecosystem. The CoinFund team is now entering its ninth investment year after raising more than USD 550 million in the last 18 months across venture and liquid investment strategies.
Apart from closing the Seed IV Fund, CoinFund also revealed its plans for the future through a new mission statement. The statement offered some details about the company’s plans to work on brand development as it solidifies its presence in the Web3 and crypto ecosystems.
In the company press release, representatives from CoinFund touched on the importance of being present, celebrating, and promoting small everyday efforts that ultimately lead to larger achievements and outcomes. They also revealed their ongoing commitment to the crypto ecosystem as well as their plans to support new technologies and educational initiatives.
The closing of Seed IV follows the recent announcement of CESR, which is a composite ether staking rate announced in collaboration with CoinDesk Indices. CESR is a global floating rate benchmark derived from the daily transaction fees and staking rewards emitted from the Ethereum Proof of Stake (PoS) blockchain. The system supports the proliferation of loans, futures, bonds, swaps, other derivative products and financial instruments that reference the index.
CoinFund is a Web3 and crypto-focused investment firm and registered investment adviser founded in 2015 with the goal of shaping the global transition to Web3. The firm invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructures.
In March 2022, CoinFund partnered with emission assessment provider, Apex Group, and transparent carbon removal, Nori, to calculate and offset its 2021 Bitcoin carbon footprint.
Working with CoinFund, Apex provided an independent assessment of the carbon emissions associated with the firm's Bitcoin exposure by evaluating transactional Bitcoin volume, using Cambridge University geographic hash rate data to assess miner use of renewable energy, and calculating the firm’s carbon footprint related to this activity.
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