Gumi Cryptos Capital (GCC) one of the more popular blockchain-focused venture capital firms has announced a $100 million fund, solely focusing on blockchain startups. Besides this, the capital firm will use this fund in concepts such as DeFi, GameFi, and Web3.
The investment group announced this yesterday, detailing their objectives and focus targets with this fund. Managing Partner of GCC, Rui Zhang said:
“Think of us as blockchain’s experienced, high-conviction, high trust, hands-on value-adding, long time preference, unicorn to megacorn, builder-focused all-in venture society.”
Also, the GCC announcement states:
“GCC expects to invest between $500,000 to $5 million per project through both initial and follow-on investments.”
GCC’s latest fund is the latest from the slew of venture capital funds many investment firms announced last year. Previously Cypher Capital, a United Arab Emirates (UAE)-based venture capital firm (VC) announced a $100 million fund. This fund had its focus on metaverse, DeFi, and GameFi concepts.
Besides this, crypto exchange Luno had launched a fund dedicated to fintech startups. Also, venture capital firm Griffin Gaming Partners (GGP) announced a $750 million fund in support of gaming concepts. These gaming concepts need to incorporate blockchain and Web3 ideas.
Coming back to GCC, the firm’s portfolio has raised more than $1 billion since January 2020. Its managing partners include Hirono Kunimitsu, Mik Matsumura, and Rui Zhang.
Recently, Matsumura gave a statement to Bitcoin.com News, explaining:
“The existing institutions and infrastructure including social infrastructure, governance, financial services, and big tech are demonstrably failing us. Because the way forward is unknown, there’s a strong appetite for experimentation.”