Crypto venture capital firm 1confirmation completes $125 million in financing

According to The Block on May 25, cryptocurrency venture capital firm 1confirmation said on Tuesday that it had raised $125 million for its latest crypto fund. According to a blog post by 1confirmation founder Nick Tomaino, the fund will be used to invest in early-stage startups in the cryptocurrency field as well as cryptocurrencies and NFTs.

Tomaino worked for Coinbase between 2013 and 2016. He first raised $26 million in funding, backed by investors such as Mark Cuban, Marc Andreessen and Peter Thiel. In 2019, 1confirmation raised another $45 million in funding.

In the blog, Tomaino stated: 1confirmation currently manages more than $800 million in assets.

Tomaino wrote: “We are fortunate to invest in the crypto industry and work with outstanding founders on behalf of a large number of limited partners. It is our honor. We are committed to continue to support product development teams at the forefront of crypto technology and help cryptocurrencies reach 1 billion users in the next 5 years.”

1confirmation’s investments include companies like Coinbase, SuperRare, and dYdX, as well as cryptocurrencies like DOT, ETH, and BTC.