Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Robot Ventures has successfully secured $75 million for its newest fund, aimed at supporting early-stage crypto startups in a recovering market.
A recent report from Bloomberg revealed that this new fund represents the fourth round, with investors such as TrueBridge Capital Partners, Haun Ventures, and individual backers like Marc Andreessen participating.
New Round Triples Robot Ventures’ Total Funding
Founded in 2018 by Tarun Chitra and Robert Leshner, Robot Ventures focuses on investing in early-stage blockchain and crypto startups.
The report highlighted that the firm leverages the firsthand knowledge of its partners, who also operate their own crypto businesses, to discover and nurture promising emerging projects.
everyone say congrats to the entire @robotventures team with the goats @tarunchitra, @rleshner, @hal2001 & @0xmadisonn
they’ve been one of our most helpful backers. couldn’t be happier to see the team keep on growing—congratspic.twitter.com/9z7e1d1Jsx
— bunny (@ConejoCapital) August 30, 2024
“We consider ourselves to be one of the few funds that can say, ‘hey we’re in the game with you’ because we’re also managing companies, and we understand what’s occurring on the ground,” Chitra stated.
Related Posts
This latest funding round has increased Robot Ventures’ capital base to three times that of its previous funds, which amounted to $22 million.
Robot Ventures has made investments in a variety of startups, including EigenLayer, a project that provides developers with access to Ethereum’s staked capital and a decentralized network of validators.
The firm also supports Lido Finance, which offers liquid staking solutions for Ethereum; Flashbots, a provider of blockchain transaction software; and Together AI, an artificial intelligence startup.
Doubling Down on Crypto Startups As Market Recovers
The report noted that the crypto venture market has begun to show signs of recovery this year, driven by a significant rise in token prices following a low point nearly two years ago.
With renewed enthusiasm in the sector, Robot Ventures intends to take advantage of this momentum by concentrating on early-stage investments that correspond with the market’s upward trend.
“From our experience, we have found that, generally, we’ve allocated more capital during bear markets simply because we have the experience of having navigated multiple cycles before,” Leshner remarked.
The post Crypto VC Firm Robot Ventures Secures $75M in Latest Funding Round appeared first on Cryptonews.
