Lattice Capital Raises $60 Million to Invest in 40 to 50 Web3 Startups

Early-stage crypto firm Lattice Capital secured $60 million for its second crypto fund to invest in multiple Web3 projects in the pipeline.

Aug 7, 2022
by Akira Ming
Lattice Capital Raises $60 Million to Invest in 40 to 50 Web3 Startups
News

Lattice Capital secured $60 million to invest in early-stage Web3 companies

Last Friday, Lattice Capital announced the completion of a $60 million funding round for its second crypto fund. Coupled with the $20 million secured for its first fund, the venture capital firm managed to raise $80 million in total thus far. 

With these funds, Lattice will invest anywhere from $500,000 to $1.5 million per project in 40 - 50 Web3 startups. In fact, the firm already deployed capital to nine companies according to Mike Zajko, general partner at Lattice. 

Out of these, only one startup, Optic, publicly announced the deal last month. With $11 million raised in a seed funding round, the San Francisco-based company will use these funds to build an artificial intelligence engine to help authenticate NFTs. 

As to what sets Lattice Capital apart from other VC firms, general partner Regan Bozman said the team boasts a wealth of experience, readily available to work with founders of the companies it invests in. 

Besides that, the firm has strong ties to CoinList, a popular ICO platform that offered new tokens like Solana ($SOL) previously before they went mainstream. Bozman was the first employee at CoinList, while Zajko runs sales and partnerships there. For that reason, the team is more than capable of sharing their knowledge with startups looking to launch a token. 

Lattice keeps an upbeat view on the crypto and NFT space

Clearly, the crypto bear market did little to change the firm's bullish outlook on Web3. 

“We continue to be impressed by the talent entering the crypto space and welcome a bear market as an advantageous time for committed investors like us to partner with promising new projects that are as excited to build in a bear as a bull,” Zajko told Coindesk in an interview. 

All in all, Lattice Capital's latest ventures re-affirm institutions' convictions in this space. In terms of blockchain gaming, the sector also showed much resilience during the crypto winter. 

According to tech investment bank Drake Star Partners, more than half of 169 private gaming deals in Q2 2022 were related to blockchain gaming firms. Further, the investment bank also said in a report that it is likely for “the first wave of NFT / blockchain M&A deals” to happen this year. 

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
We have sent you an email, please confirm!


News Filter
Play Games Now
Galaxy Fight Club
Galaxy Fight Club
illuvium
illuvium
Gods Unchained
Gods Unchained