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Early - stage - focused web3 firmInception Capital , formerly known as OP Crypto , has closed its inaugural fund at $ 30 million , David Gan , founder and general spouse of the house , exclusively shared with TechCrunch . Thiscapitalis in plus to the firms ’ existing $ 50 million Venture Fund I.
The fund , OP Fund of Funds I LP , targeted family role and gamy - net - deserving individuals who want “ diversified ” exposure to other - level crypto speculation deals . It is backed by investors admit Mirana , FJ Labs and Serafund . “ Instead of family offices trying to make the best investments themselves , this fomite is a good hedging and risk adjusted downside vehicle to get crypto exposure , ” Gan said .
This vehicle plan to indue in about five new investment managers and pecuniary resource each year , oppose to backing specific projects , protocols or startups , Gan added . “ We ’re redact our money in the hands of other institutional managers and getting a fairly diversified portfolio that these fund are endow into . ”
The flagship fomite will concenter on place in people “ up and come , ” who are “ thirsty ” and looking for early - stage inauguration . “ This is a good calendar class to double down on the space , invest early and back enterpriser , ” Gan said .
The fund has deploy about 30 % to date and plans to go on its focus on go forth managers in the crypto speculation space .
The five managers it has invested in are Syncracy Capital , Escape Velocity , Alliance , OrangeDAO and Everyrealm . It has also co - invested alongside Bain Capital Ventures , ParaFi Capital , Multicoin Capital and a16z ’s Marc Andreessen and Chris Dixon . ( Note : Inception Capital has a general partner stake in the first two managers . )
In general , the Fund of Fund ( FoF ) quad is a monolithic marketplace with billions of dollars in capital , but in the crypto sphere , it ’s “ very small , ” Gan suppose . “ I can count the number of crypto Fund of Funds with one paw . ”
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But go forward , Gan thinks there ’s gravid opportunities for managers that have grow over the past couple of years to take on sovereign wealthiness money , endowment , pension cash in hand or institutional FoFs that can then propel the crypto venture blank space “ to match that in the traditional market . ”
This post was update to include information about itsVenture Fund I in the first graph .
