Venture Capital Firm Raises 0 Million Fund to Support Crypto and DeFi Startups

Hack VC, a venture capital firm based in New York, has recently secured a 0 million investment to support the growing crypto industry. The fund is specifically targeted at early-stage companies in the crypto space, with one-third of the capital already allocated to promising ventures.

Noteworthy investments made by Hack VC include contributions to Mysten Labs, a blockchain initiative, and Amber Group, a cryptocurrency financial services company. This latest funding round comes on the heels of a successful round in 2022, where the firm raised 0 million.

In a recent interview with Bloomberg, Alex Pack, the managing partner at Hack VC, discussed the challenges of the current fundraising landscape, noting significant declines in asset values over the past year. Despite setbacks in the industry, including the failures of entities such as Terraform Labs, Three Arrows Capital, FTX, and BlockFi, Hack VC remains optimistic about the future of crypto.

Hack VC’s investment strategy focuses on startup ventures and cryptocurrency tokens, with an emphasis on projects that aim to decentralize the internet, advance defi infrastructure, and explore the intersection of cryptocurrency and AI technology.

Overall, Hack VC’s latest investment signals continued confidence in the potential of the crypto industry to drive innovation and growth in the years to come.