Nic Carter’s Castle Island Ventures Closes $50M Funding Fund
Castle Island Ventures, the early stage crypto fund helmed by Nic Carter and Matt Walsh, has raised $50 million for its 2d fund.
“We mediate that public blockchains are a transformative skills and may possibly exchange the fashion that we work in conjunction with money, rate transfer, relied on third parties, and even the predominant architecture of the web itself,” Walsh wrote in an announcement publish printed Monday.
In a call with CoinDesk, Carter said the fund’s patrons integrated high-obtain-price contributors, household locations of work and others. The company raised $30 million in June 2018 for its first fund, which invested in 20 startups including BlockFi, ErisX, River Monetary, Casa and others.
“My first fancy is bitcoin and we’re no longer abandoning bitcoin,” Carter said. “Our focal level has repeatedly been crypto financial market infrastructure and bitcoin is no longer the real half of that.”
Carter pointed to the growth of stablecoins and decentralized approaches to web infrastructure as means areas of passion for the brand new $50 million warfare chest.
“There are adjacencies that are attention-grabbing to us,” Carter said. “There’s a little broadening of our focal level to copy the maturity of that feature.”
The 2d fund will goal about 20 startup investments with moderately bigger test sizes than the major, Carter added.