Silicon Valley Firm Closes 2nd Crypto-Driven Fund With $110M

By Sierra Jackson (August 3, 2020, 11:08 PM EDT) -- Early-stage venture firm Electric Capital said Monday that it closed its second cryptonetwork and blockchain business-focused fund, with $110 million in commitments from undisclosed investors.

The San Francisco-based firm said the seed and Series A fund would continue to invest in "programmable money," or digital currencies, as its first fund in 2018 did. It added that the money would go toward investments in cryptocurrency tokens or equity.

Electric Capital co-founder Curtis Spencer hailed the value of cryptonetworks, which are decentralized networks distributed across a vast collection of computers instead of originating from a single one, over a "handful of big technology...

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