1confirmation, a venture fund backed by Peter Thiel, Marc Andreessen, and Mark Cuban, has announced it raised $125 million for its third investment fund. According to an announcement, the fund will be investing in cryptocurrency-related startups and non-fungible tokens (NFTs).
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"We are lucky to invest in this industry and work with incredible founders everyday on behalf of a great group of LPs," said 1confirmation Founder, Nick Tomaino.
The fund wants to help the cryptocurrency market to reach over 1 billion users over the next 5 years. 1confirmation launched its first $26 million fund at the peak of the last bull market in 2017. Two years later, the fund raised another $45 million.
Earlier in May, iHodl reported that Andreessen Horowitz, a private American venture capital firm (also known as a16z), plans to attract $1 billion for a new cryptocurrency-focused VC fun. A16z's third cryptocurrency fund is reportedly planning to raise between $800 million and $1 billion from investors.
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