Perhaps the most powerful force in DeFi governance is promising to lift the veil on its internal procedures.
The funding round brings the firm’s total assets under management to over $500 million.
Crowned Austria’s first tech unicorn in March, the firm is now worth even more.
The European fund has seen its AUM triple after an initial €14 million ($16 million) inflow.
Investment activity in blockchain and crypto reached $8.7 billion as of June 30, more than each of the preceding three years.
The backing of Fabric Ventures marks the first time a fund affiliated with the European Commission has invested in digital assets.
The crypto lender is days away from closing a $500 million Series E, sources say. A timetable for a public listing is circulating among investors.
It was a record sum for the sector, headlined by Circle, Ledger, Paxos and more.
ParaFi and Polychain are among the investors funding the firm behind the Fold app, the Keep protocol and an upcoming MetaMask competitor.
In the last year Magic use has shifted from regular internet users to mostly Web 3 applications, said CEO Sean Li.
Sam Bankman-Fried's exchange is bringing on the largest funding round in crypto history to fuel expansion.
The six-year-old crypto VC firm has headlined seven fundraising rounds so far this year.
Plus: Correcting misconceptions about institutional interest in crypto, and why Circle going public may bring greater regulatory clarity in the U.S. for stablecoins.