Venture capital firm Ego Death Capital has raised $100 million from family offices and other investors to support early-stage Bitcoin (BTC) companies, highlighting the growing investment interest from institutions in businesses focused on digital assets.
The fund aims to support Series A financing for companies with annual revenues between $1 million and $3 million, founding partner Nico Leshuga said in an exclusive interview with Axios.
Leshuga stated that he believes "Bitcoin is the only decentralized and secure foundation that can be built."
Ego Death Capital is building on Bitcoin at a time when institutional interest in the asset is surging, a trend driven by the strong performance of U.S. spot Bitcoin exchange-traded funds (ETFs) and the growth of corporate Bitcoin assets.
So far, Ego Death has invested in several Bitcoin-focused startups, including the Roxcom exchange, the Relai savings platform, and the payment solution Breez built on the Lightning Network.
However, the firm does not plan to invest in hardware-focused companies, such as Bitcoin miners or wallet manufacturers, nor does it intend to support projects related to other cryptocurrencies.
Dozens of public and private companies have added Bitcoin to their balance sheets—a trend that has only accelerated in recent months.
In addition to Bitcoin, according to CryptoRank data, venture capital funding in the broader cryptocurrency and blockchain space rebounded significantly in the second quarter, with companies raising a total of $10.03 billion.
More than half of that funding, $5.14 billion, was raised in June alone.
Some of the largest deals in the quarter included U.S. politician Vivek Ramaswamy's Strive raising $750 million and 21 Capital's launch, which raised $585 million to acquire Bitcoin.
Overall, the second quarter VC funding marked the strongest quarter for the industry since the first quarter of 2022, when total investments reached $16.64 billion.
Related: BlackRock iShares Bitcoin ETF holdings surpass 700,000 BTC
Original article: “Ego Death Capital raises $100M to finance Bitcoin-focused startups”
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