The crypto venture capital firm Escape Velocity has raised $25 million for its first crypto fund, with participation from A16z and others

ChainCatcher news, according to The Block, the crypto venture capital firm Escape Velocity has raised $25 million for its first crypto fund, with the total amount potentially reaching the $30 million cap before officially closing in the coming weeks. Notable venture capital partners from firms such as Castle Island Ventures, A16z, and Framework Ventures, as well as senior partners from Apollo Global Management, participated in the funding.

It is reported that the new fund will invest in early-stage projects, with investment sizes ranging from $250,000 to $1 million, and the funds will be deployed over three years. The fund has already made five investments, including Xnet and Andrena. The two co-founders of Escape Velocity, Mahesh Ramakrishnan and Salvador Gala, are both former Goldman Sachs employees. (source link)