Sunday, December 3, 2023

Venture capital company NFX adds $62.6M in follow-on investments.

NFX is a venture capital related firm that has more than $1 billion when it comes to their complete commitments of capital. They have now added another $62.61 million to their second fund, regarding follow-on investments. Included in this are cryptocurrency companies such as Ramp, Radical and Celestia. Ramp is a startup company in the crypto space while Radical is a network for code collaboration. Celestia is a blockchain that is minimalist.

NFX And Cryptocurrency

The Fund II from NFX was launched first in the year 2019. During this launch, around $275 million, was committed when it came to investments across the various sectors. In October, their Fund III was debuted, in order to back companies that were in the pre-seed as well as the seed stage. This Fund III was around $450 million.

On July 11th there was a regulatory filing that was amended. This filing showed that NFX has increased the value of Fund II to around $337.61 million. According to NFX, the funds that were additional where for investments that were follow-on.

The general partner of NFX, Morgan Beller, said that there are strong pipelines in place when it comes to crypto as well as non-crypto companies. These are planning to raise rounds that are small to extend the runway that they have. The extra funds were raised in order to provide them with backing. NFX felt that the funding would be essential for then as the market is currently uncertain.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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